1 As of July 2007, 435 PFI deals had been signed in England of which 390 were operational. These figures come from a database of projects compiled by the Treasury and are available at www.hm-treasury.gov.uk.
2 This study covers operational PFI projects procured in England across all sectors. Projects with a capital value of under £20 million and IT projects were not included as these would now be ineligible for a PFI approach under Treasury guidance issued in 2003. The very large public private partnerships for the London Underground, now categorised by the Treasury as PFI deals, were also excluded as they are not easily comparable with the majority of operational PFI deals and have been the subject of previous reports by the NAO.23