Minutes of Evidence
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TUESDAY 3 NOVEMBER 2009
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Examination of Witnesses
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Memorandum by the National Audit Office
Memorandum by the National Audit Office
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FOREWORD
SUMMARY
KEY MESSAGES
PRIVATE FINANCE PROJECTS NORMALLY DELIVER WHAT IS ASKED OF THEM
DEPARTMENTAL JUSTIFICATIONS FOR USING PRIVATE FINANCE ARE OFTEN UNCLEAR
INSTITUTIONAL INCENTIVES HAVE ENCOURAGED THE USE OF PRIVATE FINANCE
EVALUATION OF THE USE OF PRIVATE FINANCE IS NOT WELL DEVELOPED
COMPETITION IS VITAL TO ACHIEVE VFM, BUT IS NOT ALWAYS ACHIEVED
DELIVERY OF REAL RISK TRANSFER DEPENDS ON A GOOD CONTRACT
PRIVATE FINANCE PROJECTS REQUIRE VERY CAREFUL MANAGEMENT
RECENT DEVELOPMENTS MEAN CARE IS NEEDED IN THE USE OF PRIVATE FINANCE
THE SCOPE OF THIS PAPER