There is a distinct need in Canada for the federal government to take a more active role in guiding and supporting the implementation of P3s. As it currently stands, there is no one central body that offers a clear legal and institutional framework on P3s, as each level of government (federal, provincial and municipal) across each province defines its own approach.
The experience in the UK shows that the widespread application of P3s requires political consensus and that the central government plays a critical role in mobilizing resources and taking the necessary legislative and organizational actions. Faced with an aging infrastructure system and mounting rehabilitation costs, the U.K. central government launched the Private Finance Initiative (PFI) in 1992, which enacted legislation to facilitate, finance and guide the P3 process. Their efforts were met with such great success, that any country now seeking to shape a national P3 model first looks to the UK for guidance. With more than a decade of steadfast commitment to infrastructure renewal and development, the UK boasts more than 459 P3 projects with a combined value of 32.9 billion pounds. In addition, the availability of private resources and innovation has flourished, allowing for greater cost-efficiency in doing business with the private sector. So much so, that this effective combination of legislation, regulation and funding has given rise to entire new industries and companies - i.e. insured debt instruments - deepening available expertise and financing tools