The challenges of infrastructure finance need to be considered in the context of long-term infrastructure planning. This article outlines the UK's new integrated approach to infrastructure planning to meet large investment needs against the backdrop of fiscal consolidation. The UK National...

This paper utilises evidence from the first collapse of a private finance initiative in the UK, that of the National Physical Laboratory, to examine the reality of PFIs in contrast to the rhetoric presented by government. Our conclusions are that the episode provides important evidence of...

The paper addresses the issue of the feasible level of private finance in a contracting model of infrastructure finding and financing. It characterizes the structure of financial contracts, deriving the conditions under which both public and private finance coexist. A key feature is that access...

Using information collected by the National Audit Office, a comparison of several aspects of performance on recent Private Finance Initiative (PFI) contracts is conducted. The first aspect is a sector by sector comparison of refinancing profits, bearing in mind differential risk levels and in...

This paper utilises evidence from the first collapse of a private finance initiative in the UK, that of the National Physical Laboratory, to examine the reality of PFIs in contrast to the rhetoric presented by government. Our conclusions are that the episode provides important evidence of...