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Facts & Figures

As of December 2003, over 400 PFI projects have been completed and are now operational. A further 217 are in the pipeline. The combined capital value of these projects is over £56 billion.
PFI has accounted for about 15% of public sector capital investment since 1996, with the remainder being carried out through conventional forms of procurement.
Where formerly the public sector would manage their facilities via a multitude of contracts, PFI has a single point of contact, which enables public authorities to concentrate on the provision of their core services, such as teaching or providing clinical health services.
The private sector has a major incentive under PFI to complete the new assets such as buildings on schedule, since the public sector does not begin to pay for the asset until it is built and operational with the associated services being delivered.
Research into completed PFI projects shows 88% coming in on time or early, and with no cost overruns on construction borne by the public sector. Similar research has shown that only 30% of non-PFI projects have been delivered on time and only 27% delivered on budget. HM Treasury, PFI: Meeting the New Investment Challenge July 2003
Because they are responsible for performance for up to thirty years, PFI incentivises a consortium to take a longer term approach to design and construction. A 2003 report from the Commission for Architecture and the Built Environment (CABE) Creating Excellent Buildings: A Guide for Clients concluded that the PFI had matured and was capable of delivering high quality public buildings.
Over three quarters of public sector authorities have described the performance of PFI projects as “as expected” or “better”, including a quarter that have said performance was “far surpassing” their expectations. 81% of public authorities have found that PFI´s value for money was at least satisfactory. International Financial Services, PFI in the UK: Progress and Performance, December 2003
The 2001 Cabinet Office statement of practice on staff transfers extends the “Fair Deal” principle, which means that workers transferring from the public to the private sector will receive the same terms and conditions that they did before their transfer, along with a comparable pension. HM Treasury, PFI: Meeting the New Investment Challenge, July 2003