Lessons From Pfi And Other Projects

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Lessons from PFI and other projects

Great Britain: National Audit Office
Lessons from PFI and other projects Book PDF

Author : Great Britain: National Audit Office
Publisher : The Stationery Office
Page : 36 pages
File Size : 44,5 Mb
Release : 2011-04-28
Category : Business & Economics
ISBN : 0102969671

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Lessons from PFI and other projects by Great Britain: National Audit Office Pdf

Lessons from the experience of using PFI can be applied to improve other forms of procurement and help Government achieve its aim of securing annual infrastructure delivery cost savings of £2 billion to £3 billion. To secure the best value for money from all types of procurement, the public sector needs to develop skills the NAO has identified. These are collecting better data to inform decision-making; ensuring projects have the right skills; establishing effective arrangements to test, challenge and, if necessary, stop projects; and using commercial awareness to obtain better deals. The case for using private finance in public procurement needs to be challenged more. Also, privately financed projects will often still be off balance-sheet which may continue to act as an incentive to use PFI. There has not been a systematic value for money evaluation of operational PFI projects by departments. So there is insufficient data to demonstrate whether the use of private finance has led to better or worse value for money than other forms of procurement. The Treasury and departments should identify alternative methods for delivering infrastructure and related facilities services to maximise value for money for government. The NAO welcomes the current plans of the Treasury and Cabinet Office to strengthen project assurance. The report highlights the need for independent challenge capable of stopping projects which do not give the prospect of value for money. This is particularly important as there is still a shortage of the skills needed to manage and oversee complex major projects.

Public Private Partnerships and Constitutional Law

Nikiforos Meletiadis
Public Private Partnerships and Constitutional Law Book PDF

Author : Nikiforos Meletiadis
Publisher : Routledge
Page : 220 pages
File Size : 47,9 Mb
Release : 2018-12-10
Category : Business & Economics
ISBN : 9780429821806

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Public Private Partnerships and Constitutional Law by Nikiforos Meletiadis Pdf

Annually, the government commits significant expenditure to a type of public contracts which are known as Public-Private Partnerships (PPPs) or the Private Finance Initiative (PFI). These contracts bind the public purse for decades in sectors such as Health, Defence and Detention, and involve the assignment of a significant role to the private sector in the provision of public services. This book explores the controversial subject of the public accountability of these contracts, and the corresponding large sums of public money involved. It explains how public accountability works for PPPs and the PFI, and it argues that it should be provided as part of the Economic Constitution. Drawing comparative understandings from the UK and the USA constitutional legal traditions, the book investigates public accountability from the perspective of the Economic Constitution, focusing on three accountability criteria - legal, accounting and administrative. In doing so, it provides an analysis which informs both from the perspective of academic research and from that of legal and consulting practice.

The Economic Constitution

Tony Prosser
The Economic Constitution Book PDF

Author : Tony Prosser
Publisher : Oxford University Press, USA
Page : 296 pages
File Size : 54,8 Mb
Release : 2014
Category : Law
ISBN : 9780199644537

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The Economic Constitution by Tony Prosser Pdf

This title examines the constitutional framework for management of the economy in the UK, including the effects of the 2008 financial crisis. It assesses the extent to which legal principles limit the policy choices available to government and the extent to which they permit a coherent approach to economic management across government.

HC 97 - Private Finance 2

Great Britain: Parliament: House of Commons: Treasury Committee
HC 97 Private Finance 2 Book PDF

Author : Great Britain: Parliament: House of Commons: Treasury Committee
Publisher : The Stationery Office
Page : 84 pages
File Size : 44,7 Mb
Release : 2014-06-09
Category : Business & Economics
ISBN : 9780215072900

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HC 97 - Private Finance 2 by Great Britain: Parliament: House of Commons: Treasury Committee Pdf

Written evidence is contained in Volume 2, available on the Committee website at www.parliament.uk/treascom

Equity investment in privately financed projects

Great Britain: Parliament: House of Commons: Committee of Public Accounts
Equity investment in privately financed projects Book PDF

Author : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher : The Stationery Office
Page : 52 pages
File Size : 40,8 Mb
Release : 2012-05-02
Category : Business & Economics
ISBN : 0215044126

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Equity investment in privately financed projects by Great Britain: Parliament: House of Commons: Committee of Public Accounts Pdf

This report examines the risks and rewards for private equity investors in government private finance projects. The Private Finance Initiative (PFI) model has been used by governments in some 700 projects over the last 20 years but defects, including failures to demonstrate the value for money case satisfactorily, the use of long inflexible contracts and the costly contracting process, and inefficient pricing of equity have made continuing with the current model unsustainable. The Treasury is currently reviewing the PFI model. It needs to improve flexibility in the way that private finance is used, establishing quicker and more efficient procurement procedures and achieving a better balance between investors' risks and their rewards. Private finance should only be used where it secures real value for money for the taxpayer, not because of definitional statistical incentives to get projects off the balance sheet (only some 20% of long term PFI liabilities are recorded as debt in the national accounts). Business cases must be an unbiased and transparent assessment of the best form of procurement for the particular project being undertaken, taking account of expected tax receipts from alternative options and not adjusting assumptions to bias the outcome of the assessment. The Treasury needs to collect data on investors' experiences and use this information to assess and challenge investors' returns. There needs to be greater transparency over the pricing of contracts, and inefficiencies which add to the cost of private deals, such as long procurement times, need to be addressed.

Policing large scale disorder

Great Britain: Home Office
Policing large scale disorder Book PDF

Author : Great Britain: Home Office
Publisher : The Stationery Office
Page : 64 pages
File Size : 49,7 Mb
Release : 2012-02-16
Category : Political Science
ISBN : 0101829221

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Policing large scale disorder by Great Britain: Home Office Pdf

Response to HC 1456 (ISBN 9780215040169)

Real Estate Concepts

Ernie Jowsey
Real Estate Concepts Book PDF

Author : Ernie Jowsey
Publisher : Routledge
Page : 810 pages
File Size : 51,6 Mb
Release : 2014-07-11
Category : Business & Economics
ISBN : 9781135084424

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Real Estate Concepts by Ernie Jowsey Pdf

The essential reference tool for all real estate, property, planning and construction students. Real Estate Concepts provides built environment students with an easy to use guide to the essential concepts they need to understand in order to succeed in their university courses and future professional careers. Key concepts are arranged, defined and explained by experts in the field to provide the student with a quick and reliable reference throughout their university studies. The subjects are conveniently divided to reflect the key modules studied in most property, real estate, planning and construction courses. Subject areas covered include: Planning Building surveying Valuation Law Economics, investment and finance Quantity surveying Construction and regeneration Sustainability Property management Over the 18 alphabetically arranged subject specific chapters, the expert contributors explain and illustrate more than 250 fully cross-referenced concepts. The book is packed full of relevant examples and illustrations and after each concept further reading is suggested to encourage a deeper understanding. This book is an ideal reference when writing essays, assignments and revising for exams.

Law and Administration

Carol Harlow,Richard Rawlings
Law and Administration Book PDF

Author : Carol Harlow,Richard Rawlings
Publisher : Cambridge University Press
Page : 957 pages
File Size : 42,5 Mb
Release : 2021-07-22
Category : Law
ISBN : 9781107149847

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Law and Administration by Carol Harlow,Richard Rawlings Pdf

Contains a full account of administrative law in the context of social, political and economic forces shaping the law.

New Forms of Procurement

Marcus C. Jefferies,Steve Rowlinson
New Forms of Procurement Book PDF

Author : Marcus C. Jefferies,Steve Rowlinson
Publisher : Routledge
Page : 350 pages
File Size : 55,6 Mb
Release : 2016-04-14
Category : Technology & Engineering
ISBN : 9781317635024

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New Forms of Procurement by Marcus C. Jefferies,Steve Rowlinson Pdf

The last three decades have seen the evolution of Public–Private Partnerships (PPPs) and Relationship Contracting (RC) as alternative procurement approaches to traditional methods of delivering public infrastructure. The potential for growth in these new forms of procurement has led to an on-going debate on the nature of requirements, particularly in terms of policy development, encouraging private investment and value for money. A key argument for Governments to procure projects using PPPs and RC is that the process delivers better value for all the stakeholders, including the community and asset end-users. This wide-ranging study of such crucial procurement issues includes international historical context, collaboration and risk management, with a focus on sustainable procurement approaches. The international significance of PPPs and RC procurement is reinforced with case study examples from the UK, Europe, North America, South Africa and the Asia-Pacific. It features cutting-edge research from around the world on subjects such as: Reviews and reflection of the PPP approach Project Alliancing Implementation of RC in developing countries Changes in procurement policy Value for money, collaboration and stakeholder involvement Growth and emergence of PPPs in Asia Risk management Including contributions from some of the world's most prominent academics and practitioners in this field, it is a crucial guide to the strategic choices governments now face for the provision of infrastructure, between using ‘public’ or ‘private’ mechanisms, or a combination of the two.

Private Finance Initiative

Great Britain: Parliament: House of Commons: Treasury Committee
Private Finance Initiative Book PDF

Author : Great Britain: Parliament: House of Commons: Treasury Committee
Publisher : The Stationery Office
Page : 120 pages
File Size : 55,7 Mb
Release : 2011-08-19
Category : Business & Economics
ISBN : 0215561201

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Private Finance Initiative by Great Britain: Parliament: House of Commons: Treasury Committee Pdf

The Treasury Committee concludes that Private Finance Initiative (PFI) funding for new infrastructure, such as schools and hospitals, does not provide taxpayers with good value for money and stricter criteria should be introduced to govern its use. Higher borrowing costs since the credit crisis mean that PFI is now an extremely inefficient method of financing projects. Poor investment decisions may continue to be encouraged across the public sector, however, because PFI allows Government departments and public bodies to make big capital investments without committing large sums up front. There is no convincing evidence that savings and efficiencies during the lifetime of PFI projects offset the higher cost of finance. The current Value for Money appraisal system may be biased to favour PFIs and there are problems with the way costs and benefits for such projects are currently calculated. Investment could be increased in the long run if government capital investment were used instead of PFI. Paying off a PFI debt of £1bn may cost taxpayers the same as paying off a direct government debt of £1.7bn. Recommendations include: the Treasury should consider scoring most PFIs in departmental budgets in the same way as direct capital expenditure; the Treasury should discuss with the OBR the treatment of PFI to ensure that PFI cannot be used to 'game' the fiscal rules; the Value for Money assessment process should be subjected to scrutiny by the NAO; the Treasury should review the way in which risk transfer is identified.

Public Management in the United Kingdom

June Burnham,Sylvia Horton
Public Management in the United Kingdom Book PDF

Author : June Burnham,Sylvia Horton
Publisher : Bloomsbury Publishing
Page : 320 pages
File Size : 44,6 Mb
Release : 2012-10-03
Category : Political Science
ISBN : 9781137272478

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Public Management in the United Kingdom by June Burnham,Sylvia Horton Pdf

From the 'Third Way' reforms of the 1990s to today's prospect of a post-bureaucracy era, the management of the UK's public services has been radically overhauled in recent decades. This important new text provides a complete introduction to the key themes and developments in public management and the changing relationship between governments, public service providers and the public. June Burnham and Sylvia Horton examine the key components of public management in the UK, including strategic management and the introduction of new performance management techniques as well as financial and human resources management. The book assesses how wider forces such as Europeanization, globalization and the global economic crisis have affected both the structure and role of the state and the way public services are managed. It also looks back to examine the transition from public administration to public management and considers how different ideologies have influenced and driven reform. Distinctively, the authors provide a full assessment of how devolution has affected public services across all parts of the UK. Providing an insightful and accessibly written introduction, this book will be ideal reading for all students of public management.

Public-Private Partnerships for Infrastructure

E. R. Yescombe,Edward Farquharson
Public Private Partnerships for Infrastructure Book PDF

Author : E. R. Yescombe,Edward Farquharson
Publisher : Butterworth-Heinemann
Page : 548 pages
File Size : 43,8 Mb
Release : 2018-05-29
Category : Business & Economics
ISBN : 9780081007679

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Public-Private Partnerships for Infrastructure by E. R. Yescombe,Edward Farquharson Pdf

Public-Private Partnerships for Infrastructure - Principles of Policy and Finance, Second Edition explains how public private partnerships are prepared, procured, financed, and managed from both the public- and private-sector perspectives. As the use of public private partnerships continues to develop world-wide, both in the area of public policy and private financing and contracting, the Second Edition of this leading textbook: Captures and explains the latest approaches, providing a comprehensive all-round guide for those on both the public- and private-sector sides of the table Emphasises a step-by-step approach within a comprehensive, cross-referenced format Includes clear explanations of PPP evaluation, structuring and financing concepts for the benefit of those new to the topic: no prior knowledge is assumed or required Provides detailed reference points for more experienced practitioners Draws from the authors’ experience and practice in PPP markets worldwide to provide a perspective on practical application of the key underlying principles Includes an extensive glossary of technical and financial terms used in the PPP sector Includes more technical information and a stronger legal perspective than other books Emphasizes a step-by-step approach within a comprehensive, cross-referenced format Expands and updates the historical backgrounds and political contexts of public-private partnerships

Cambridge Yearbook of European Legal Studies, Vol 15 2012-2013

Catherine Barnard,Albertina Albors-Llorens,Markus Gehring,Robert Schütze
Cambridge Yearbook of European Legal Studies Vol 15 2012 2013 Book PDF

Author : Catherine Barnard,Albertina Albors-Llorens,Markus Gehring,Robert Schütze
Publisher : Bloomsbury Publishing
Page : 816 pages
File Size : 46,7 Mb
Release : 2013-12-19
Category : Law
ISBN : 9781782253372

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Cambridge Yearbook of European Legal Studies, Vol 15 2012-2013 by Catherine Barnard,Albertina Albors-Llorens,Markus Gehring,Robert Schütze Pdf

The Cambridge Yearbook of European Legal Studies provides a forum for the scrutiny of significant issues in EU Law, the law of the European Convention on Human Rights, and Comparative Law with a 'European' dimension, and particularly those issues which have come to the fore during the year preceding publication. The contributions appearing in the collection are commissioned by the Centre for European Legal Studies (CELS) Cambridge, a research centre in the Law Faculty of the University of Cambridge specialising in European legal issues. The papers presented are at the cutting edge of the fields which they address, and reflect the views of recognised experts drawn from the University world, legal practice, and the institutions of both the EU and its Member States. Inclusion of the comparative dimension brings a fresh perspective to the study of European law, and highlights the effects of globalisation of the law more generally, and the resulting cross fertilisation of norms and ideas that has occurred among previously sovereign and separate legal orders. The Cambridge Yearbook of European Legal Studies is an invaluable resource for those wishing to keep pace with legal developments in the fast moving world of European integration. SUBSCRIPTION TO SERIES To place an annual online subscription or a print standing order through Hart Publishing please click on the link below. Please note that any customers who have a standing order for the printed volumes will now be entitled to free online access. www.hartjournals.co.uk/cyels/subs Editorial Advisory Board John Bell Alan Dashwood Simon Deakin David Feldman Richard Fentiman Angus Johnston John R Spencer Founding Editors Alan Dashwood Angela Ward

The Oxford Handbook of State Capitalism and the Firm

Late Professor of Entrepreneurship Mike Wright,Mike Wright,Dancap Private Equity Chair and Professor Geoffrey T Wood,Geoffrey T. Wood,Alvaro Cuervo-Cazurra,Professor of International Business and Strategy Alvaro Cuervo-Cazurra,Chair of International Business Pei Sun,Pei Sun,Ilya Okhmatovskiy,Anna Grosman
The Oxford Handbook of State Capitalism and the Firm Book PDF

Author : Late Professor of Entrepreneurship Mike Wright,Mike Wright,Dancap Private Equity Chair and Professor Geoffrey T Wood,Geoffrey T. Wood,Alvaro Cuervo-Cazurra,Professor of International Business and Strategy Alvaro Cuervo-Cazurra,Chair of International Business Pei Sun,Pei Sun,Ilya Okhmatovskiy,Anna Grosman
Publisher : Oxford University Press
Page : 913 pages
File Size : 40,7 Mb
Release : 2022-07-28
Category : Capitalism
ISBN : 9780198837367

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The Oxford Handbook of State Capitalism and the Firm by Late Professor of Entrepreneurship Mike Wright,Mike Wright,Dancap Private Equity Chair and Professor Geoffrey T Wood,Geoffrey T. Wood,Alvaro Cuervo-Cazurra,Professor of International Business and Strategy Alvaro Cuervo-Cazurra,Chair of International Business Pei Sun,Pei Sun,Ilya Okhmatovskiy,Anna Grosman Pdf

There has been a major revival of interest in State Capitalism: What it is, where it is found, and why it is seemingly becoming more ubiquitous. As a concept, it has evolved from radical critiques of the Soviet Union, to being deployed by neo-liberals to describe market reforms deemed imperfect, to settle into a middle ground, as a pragmatic way to describe the state assuming a role as an active economic agent, in addition to its regulatory, social, and security functions. The latter is the central focus of this book, although due attention is accorded to the origins of state capitalism and how it has changed over the years, as well as contemporary ways in which state capitalism may be theorized. This economic agency may assume direct forms, for example, via state owned enterprises. However, it may also be indirect, for example, actively serving private interests through promoting insider firms, who may occupy monopolistic market positions and perform outsourced state functions. In turn, this leads to raise salient governance questions. The latter may encompass agency tensions between public ownership, and political or even private interest control; it may also include issues of transparency and monitoring. Although state capitalism has often been depicted as the preserve of states in the global south, be they developmental or predatory, many forms of state capitalism are visible in mature economies, be they liberal or coordinated, and this is not always associated with superior governance arrangements; indeed, this is an area where clear and easy divisions between the developing or emerging world and the developed or mature world may increasingly be breaking down. This volume brings together the accounts of leading experts from around the world; it is explicitly multi-disciplinary, and both consolidates the exiting knowledge base, and provides new, novel, and counter-intuitive insights.

Unhealthy Profits

John Lister
Unhealthy Profits Book PDF

Author : John Lister
Publisher : Lulu.com
Page : 290 pages
File Size : 43,7 Mb
Release : 2018-11-19
Category : Business & Economics
ISBN : 9780244734428

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Unhealthy Profits by John Lister Pdf

The Private Finance Initiative (PFI) ? the use of private funds to build public sector infrastructure ? began in 1992. Since then it has been one of the most contentious policies advocated by both Conservative and Labour governments. After 25 years of costly failure the policy has now been abandoned by Labour and Tory parties. 125 British PFIs are NHS projects, which will cost over ?80 billion for buildings built for ?12bn. Many PFI companies are now owned offshore, paying no tax on profits, while the extra costs of PFI hang like a millstone dragging down NHS trusts. Unhealthy Profits explores the theory and practice, costs and consequences of PFI, how it has spread world-wide, and what can be done about it. And as a unique case study, it tells the story of the UNISON Branch in Mid Yorkshire Hospitals Trust that has commissioned the book ? and fought PFI all the way.