Update on PFI debt refinancing and the PFI equity market [21 Apr 2006]

Update on PFI debt refinancing 
and the PFI equity market

The National Audit Office scrutinises public spending on behalf of Parliament. The Comptroller and Auditor General, Sir John Bourn, is an Officer of the House of Commons.  He is the head of the National Audit Office, which employs some 800 staff. He, and the National Audit Office, are totally independent of Government.  He certifies the accounts of all Government departments and a wide range of other public sector bodies; and he has statutory authority to report to Parliament on the economy, efficiency and effectiveness with which departments and other bodies have used their resources. Our work saves the taxpayer millions of pounds every year. At least £8 for every £1 spent running the Office.

This report has been prepared under Section 6 of the National Audit Act 1983 for presentation to the House of Commons in accordance with Section 9 of the Act.

John Bourn
Comptroller and Auditor General
National Audit Office

3 April 2006

The National Audit Office study team consisted of:

Mark Simpson, Richard Wade, 
Rohan Wijeratne, Helen Thorpe, 
Roseanna Grundy and Hannah Payne, 
under the direction of David Finlay.

This report can be found on the National 
Audit Office web site at www.nao.org.uk

For further information about the 
National Audit Office please contact:

National Audit Office
Press Office
157-197 Buckingham Palace Road
Victoria
London
SW1W 9SP

Tel: 020 7798 7400
Email: enquiries@nao.gsi.gov.uk

© National Audit Office 2006

REPORT BY THE COMPTROLLER AND AUDITOR GENERAL | HC 1040 Session 2005-2006 | 21 April 2006