Public Finance Initiative contracts with a capital value of around 13b pounds have been let and many more projects are under development. This National Audit Office report explains how the audit methodology for examining value for money deals under the Private Finance Initiative will help those developing PFI projects. It describes an analytical framework which provides for a rigorous, comprehensive and logical approach for examining PFI deals. The framework sets out a series of questions which should be capable of being answered “yes” or “no”. Starting with the top level question “was this a good deal?” it then sets out a range of subsidiary questions which cover each of the key aspects of developing a PFI project.Report available from the Stationery Office Ltd. HC 739 1998/99.
By David Finlay, National Audit Office