Private Finance Initiatives arrived with the New Labour Government in the mid-1990s. But since the early fanfare, the industry, and notably major contractor Jarvis, have undergone major upheaval. Sophie Evans reports on the latest Legal Week roundtable debate
April 13, 2005 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
Is innovation a word associated with private finance initiatives (PFIs)? The concept may have arrived in the UK in a blaze of publicity and expectations in the mid-1990s, but the future form that PFI will take is now under debate.
Since the arrival of PFI, the sums involved in the industry have been undeniably large. In 1996, the size of the UK PFI market was estimated to be £1.5bn. By 2002, it was a massive £4.9bn.
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