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The Rational for the Implementation of the Private Finance
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The Rational for the Implementation of the Private Finance Initiative (PFI) in the UK Michael E. Morrison Albert J. Orr May 2005 Masters of Science in Project Management Faculty of Development and Society Sheffield Hallam University Contents Page Abstract The Private Finance Initiative (PFI) is the name given to the policies announced by the Chancellor of the Exchequer in the autumn of statement 1992 with the aim of achieving closer partnerships between the public and private sectors. It utilises private sector competition to reduce the cost of delivering public service and improve the quality of service delivery. It was one of a range of policies introduced by the Conservative Government to increase the involvement of the private sector in the provision of public services. PFI entails transferring the risks associated with public service projects to the private sector in part or in full. Where a private sector contractor is judged best able to deal...
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