Private Finance Initiative

The private finance initiative (PFI) is a way of creating partnerships between the public and private parts of the economy. It involves paying for public building projects (such as infrastructure) with money from private companies. It was created by the governments of Australia and the United Kingdom. It was used there and in Spain. PFI and its variants have now been used in many countries as part of the wider programme of privatisation and financialisation. This has been because of an increased need for accountability and efficiency for the spending of public money. PFI has also been used simply to avoid reporting costs and debt on the balance sheets.

Private Finance Initiative Media

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  Cumberland Infirmary, one of the first projects funded using the PFI

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  Sign on the door of Central Manchester University Hospitals NHS Foundation Trust

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  George Osborne MP, pictured speaking on the launch of the Conservative Party manifesto for the 2009 European Parliament elections, at Keele University

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  University Hospital Coventry

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  Demonstration, November 2006

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  East entrance of HM Treasury

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  The road bridge linking Wester Ross with the Isle of Skye, seen here from the shore at Kyleakin on Skye.*The weather northwards is rather wet which is why the Cuillin Hills (actually mountains) can barely be seen due to the low clouds. see below for the rest of the bridge