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Beyond PFI: Procurement of Public Sector Infrastructure and the Evolving Plurality of Methods in the UK

In: Innovations in Financing Public Services

Author

Listed:
  • Darinka Asenova
  • Matthias Beck
  • Stephen J. Bailey

Abstract

The ‘credit binge’ of the 1990s and early 2000s facilitated the use of private finance for public services. However, this ‘easy money’ debtfuelled period of economic growth was followed by the ‘credit crunch’ beginning in 2007. Combined with the 2009 economic recession, the UK government faced a pronounced dilemma because its plans for increased spending on public service infrastructures were increasingly undermined by difficulties faced by Private Finance Initiatives (PFIs) and similar ventures in obtaining commercial bank loans. Many private companies involved in the construction and management of Public-Private Partnerships (PPPs) facilities also experienced severe financial problems. In the changing macroeconomic and microeconomic conditions, it therefore became essential for public sector departments to identify the most effective and efficient methods for the financing and delivery of public services and related physical infrastructure.

Suggested Citation

  • Darinka Asenova & Matthias Beck & Stephen J. Bailey, 2010. "Beyond PFI: Procurement of Public Sector Infrastructure and the Evolving Plurality of Methods in the UK," Palgrave Macmillan Books, in: Stephen J. Bailey & Pekka Valkama & Ari-Veikko Anttiroiko (ed.), Innovations in Financing Public Services, chapter 2, pages 14-37, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28206-3_2
    DOI: 10.1057/9780230282063_2
    as

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