Search results for 'Private finance'

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  2. The Building Schools for the Future Programme: Renewing the secondary school estate

    Report Value for money

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    The Building Schools for the Future programme aims to rebuild, refurbish and provide new Information Technology for all 3,500 secondary schools in England by 2020. The Department for Children, Schools and Families (DCSF) underestimated how long it would take to launch the programme and build the schools, though the speed of delivery has compared well […]

  4. Dr Foster Intelligence: A joint venture between the Information Centre and Dr Foster LLP

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    The Department of Health and the Information Centre could not demonstrate to the National Audit Office’s satisfaction that they had achieved value for money in establishing Dr Foster Intelligence, a joint venture between the Information Centre and a private sector company Dr Foster LLP. This is primarily because they did not go out to tender […]

  5. Local authority capital expenditure and resourcing

    Report Interactive visualisation

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    Explore the trends in capital expenditure and resourcing since 2010-11 and build a richer understanding of what they mean for different local authorities.

  6. Improving the PFI tendering process

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    The NAO has concluded in a new report published today that the tendering process for PFI projects needs improvement. During 2004-2006, PFI projects took an average of almost three years (34 months) to tender. Although there was substantial variation between sectors with schools, in particular, taking significantly less time to close deals (25 months), the […]

  10. The Procurement of the National Roads Telecommunications Services

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    The Highways Agency successfully transferred to the private sector the risks associated with procuring a digital information system for England’s motorway network. The procurement lasted five years, however, over twice as long as the Agency originally expected, and two well qualified potential bidders dropped out during a 17 month short listing process, leaving just two […]

  11. The Wider Markets Initiative

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    Under the Wider Markets Initiative government departments could provide real gains to the public sector, according to the NAO. The initiative encourages the public sector to make fuller use of core public assets in an enterprising way – developing and selling new goods and services. Where undertaken, such new activities are working well. The benefits […]

  12. London Underground PPP: Were they good deals?

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    The National Audit Office reported today that there was limited assurance that the price of the three Tube PPPs was reasonable, and some uncertainty about the eventual price although any price revisions have to meet tests of economy and efficiency. The complexity of the PPPs resulted from the scale of the deals, innovative output specifications […]

  13. London Underground: Are the Public Private Partnerships likely to work successfully?

    Report Value for money

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    The National Audit Office reported today that there was limited assurance that the price of the three Tube PPPs was reasonable, and some uncertainty about the eventual price although any price revisions have to meet tests of economy and efficiency. The complexity of the PPPs resulted from the scale of the deals, innovative output specifications […]

  14. Network Rail – Making a Fresh Start

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    Sir John Bourn, head of the National Audit Office, today published a report on Network Rail which sets out a number of challenges which need to be addressed to improve the management of the rail network. Although Network Rail is making progress, its governance is complex and the support of all parties involved in the […]

  15. The Termination of the PFI Contract for the National Physical Laboratory

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    The Department for Trade and Industry successfully transferred risk in the PFI contract to build and manage new facilities for the National Physical Laboratory and protected the taxpayer from bearing the majority of the costs of the project’s problems. Delays during the construction of the new facilities meant that the DTI did not secure the […]

  16. PFI and PF2

    Press release

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    A briefing on the rationale, costs and benefits of the Private Finance Initiative; the use of and impact of PFI, and ability to make savings from operational contracts; and the introduction of PF2. There are currently over 700 operational PFI and PF2 deals, with a capital value of around £60 billion and annual charges for these deals amounted to £10.3 billion in 2016-17. Even if no new deals are entered into, future charges which continue until the 2040s amount to £199 billion.

    18 January 2018

  17. PFI Refinancing Update

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    The public sector now has the prospect of securing a bigger share of the gains arising from the refinancing of PFI projects, under new arrangements introduced by the Office of Government Commerce (OGC). The OGC negotiated these measures with the private sector following earlier concerns of the National Audit Office and Public Accounts Committee (PAC) […]

  18. Department of Health – Innovation in the NHS: Local Improvement Finance Trusts

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    Sir John Bourn, head of the National Audit Office, reported today that the Local Improvement Finance Trust (LIFT) initiative, launched in 2001, is an effective means of improving primary health and social care. The LIFT model has a number of strengths: it takes a long term strategic approach to local health provision which combines the […]

  19. Cambridge-MIT Institute

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    The head of the National Audit Office Sir John Bourn reported today on the Cambridge-MIT Institute (CMI). His report acknowledges the considerable potential and early success of CMI and identifies important lessons for departments on setting up and managing innovative ventures in the future. CMI, a company jointly owned by Cambridge University and the Massachusetts […]

  20. The Private Finance Initiative: The Contract for the Defence Fixed Telecommunications System

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    The Ministry of Defence achieved a good price when they awarded the contract for a new Defence Fixed Telecommunication System to BT in 1997, Sir John Bourn, head of the National Audit Office, told Parliament today. The ten year contract let under the Private Finance Initiative (PFI) is expected to cost £612 million with a […]