Abstract
The Private Finance Initiative (PFI), under which groups of private companies finance the design, building, and maintenance of new economic and social infrastructure, is the dominant method of large-scale public investment in the United Kingdom. This chapter provides an account of the PFI's political and economic origins, a description of the policy's size, scope, and significance within overall public capital investment, a review of the evidence on the PFI's cost-efficiency, and an analysis of the policy's medium-term prospects.
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