What's wrong with PFI?

PFI was supposed to be the saviour of the public sector, but it’s costing the taxpayer a fortune and could prove to be a painful thorn in Gordon Brown’s side. So will private finance initiatives survive?

PFI is the private finance initiative' for funding large-scale state spending. The idea came from the Tories, but has been warmly embraced by New Labour, which sometimes prefers to talk about PPP' public-private partnerships. Under PFI, the government has signed more than 750 deals with private companies to build, service and maintain all kinds of big projects in the public sector, from schools and hospitals to prisons, roads and defence facilities.

PFI: What's in it for the private sector?

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Simon Wilson’s first career was in book publishing, as an economics editor at Routledge, and as a publisher of non-fiction at Random House, specialising in popular business and management books. While there, he published Customers.com, a bestselling classic of the early days of e-commerce, and The Money or Your Life: Reuniting Work and Joy, an inspirational book that helped inspire its publisher towards a post-corporate, portfolio life.   

Since 2001, he has been a writer for MoneyWeek, a financial copywriter, and a long-time contributing editor at The Week. Simon also works as an actor and corporate trainer; current and past clients include investment banks, the Bank of England, the UK government, several Magic Circle law firms and all of the Big Four accountancy firms. He has a degree in languages (German and Spanish) and social and political sciences from the University of Cambridge.