PFI and its place in public expenditure

1.9 The vast majority of investment in the UK's public services has been, and will continue to be, procured through conventional means. However, other innovative procurement approaches, and PFI in particular, have been used to deliver some of the government's most complex and significant public sector infrastructure projects and programmes.

1.10 Although PFI was introduced in 1992, there has been a significant increase in its use in delivering public infrastructure and services since 1997. Chart 1.1 sets out this historical trend. Over 625 PFI projects have now been signed with a total capital value of £58.7 billion. PFI has brought significant benefits to the public and Box 1.1 shows how PFI has demonstrated good value for money and high levels of user satisfaction. The Government remains strongly supportive of the benefits PFI can bring to the public sector.