PFI

Five factors for success in dealing with PFI expiry

A report shows many London boroughs are not yet prepared for the expiry of their private finance initiative (PFI) contracts. A spotlight on this issue is needed, writes Caroline Mostowfi.

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According to a new report, at least 20 London boroughs are parties to PFI contracts that will expire before 2033. These account for three-quarters of all PFI contracts in the capital. 

Failure by boroughs to prepare in time for contract expiry could lead to major disruption to essential public services and facilities, according to the report PFI Expiry: How London boroughs can get ahead.  The report is the result of a major research project into PFI expiry facilitated by Future of London (a not-for-profit organisation) in collaboration with Devonshires Solicitors and Airey Miller. 

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