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MARKET REPORT - IPPR CALLS FOR INDEPENDENT REVIEW OF PFI

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The Institute for Public Policy Research is calling for an independent review of private finance initiative project...
The Institute for Public Policy Research is calling for an independent review of private finance initiative projects to determine whether they provide value for money.

Research by the influential think-tank revealed just 6% of PFI projects by central and local government have had an independent audit of value for money.

IPPR public/private partnerships research fellow Paul Maltby said: 'In theory, PFI can deliver better quality services at less cost to the taxpayer, but in sectors such as health and education these expected benefits are in doubt. There is no evidence about whether PFI delivers once schemes are running.'

A spokesman for the Office of Government Commerce said there were no plans for a wholesale review, but there had been smaller scale reviews where it was felt necessary.

The Treasury insists that PFI projects are measured against a public sector comparator, but there is criticism this is weighted towards the private sector.
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