The Declining Role of the State in Infrastructure Investments in the UK

Michael Pollitt

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: This paper explores the increasing private involvement in social infrastructure projects in the UK since 1979. It begins by reviewing the effect of privatisation on the quantity of investment undertaken by the utility sector. The evidence is consistent with the view that the private sector is capable of raising the necessary finance. The history, theory and experience of the Private Finance Initiative (PFI) is then discussed. Five case studies of major PFI projects are reviewed, covering hospitals, prisons, computer services and transport projects. The author concludes that the PFI has been a qualified success in the UK especially when compared with the experience under the previous regime of government procurement.

Keywords: Private Finance Initiative; Infrastructure; Value for money test; Privatisation; Investment (search for similar items in EconPapers)
JEL-codes: L33 L50 L90 (search for similar items in EconPapers)
Date: 2000-02
New Economics Papers: this item is included in nep-pub
Note: IO
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25)

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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:0001

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