Part 3: There are general principles which departments can apply to refinancings
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Departments should consider a range of principles when they assess a refinancing
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Substantial refinancing gains to the private sector may threaten the perceived value for money of the project
Substantial refinancing gains to the private sector may threaten the perceived value for money of the project
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Large private sector gains in the early years of a project may attract criticism
It is important, however, to assess value for money by reference to the whole life costs and benefits of the project
The Fazakerley refinancing has yielded substantial gains for FPSL but the project has brought rewards for the Prison Service