The Private Finance Initiative in Local Authorities



The Private Finance Initiative in Local Authorities

Authors

LOCKE D, Public Private Partnerships Programme, UK

Description

The 4Ps is a local authority funded and sponsored unit whose remit is to assist local authorities in exploring and applying public private partnerships, of which the PFI is predominant at present. The 4Ps was set up in April 1996, it is controlled by a Bo

Abstract

The 4Ps is a local authority funded and sponsored unit whose remit is to assist local authorities in exploring and applying public private partnerships, of which the PFI is predominant at present. The 4Ps was set up in April 1996, it is controlled by a Board of nine members, with all party representation, and has an executive of seven staff.

PFI is a strategic procurement tool under which a public sector client procures capital intensive services. It is concerned with more than simply acquiring private sector finance; the purpose of the PFI is to make use of private sector resources, skills and management expertise in providing public services and constructing and managing the assets needed to deliver them.

Publisher

Association for European Transport