The 11 buyouts and 20 terminations meant that 31 PFI/PPP projects returned to direct public ownership/provision. A further 21 PFI/PPP finished between March 2012 and March 2015 when HM Treasury began identifying the projects removed from the current list of projects in the annual summary data (see Table 4). The majority of buyout and terminated projects were in UK government departments, local authorities and Transport for London. All but a few finished projects were in UK and Scottish Government departments.
Table 4: Projects returned to public ownership/provision
Public body | Buyout | Termination | Finished | Total |
Government Department | 0 | 6 | 15 | 21 |
Scottish Government | 3 | 0 | 3 | 6 |
2 | 2 | 1 | 5 | |
Local authority | 3 | 4 | 1 | 8 |
Transport for London | 2 | 6 | 0 | 8 |
Other | 1 | 2 | 1 | 4 |
Total | 11 | 20 | 21 | 52 |
Source: Appendix A and B and HM Treasury annual summary data 2013, 2014 and 2015 to identify projects completed between March 2012 - March 2015
This research paper is based on PFI/PPP projects in the UK; Non-Profit Distributing (NPD) projects in Scotland (although the SPV equity does not receive dividends and private sector returns are capped in competition, it is a commercial for-profit model); and Local Improvement Finance Trust (LIFT) primary healthcare projects (only operates in England), but does not include LIFT project performance.