In particular, the assertion regularly made by ministers that PFIs lead to fewer time overruns and lower cost overruns during construction has been shown to be unfounded. UK government procurement policy has for many years depended on claims that compared with traditional procurement PFI reduces both the frequency and magnitude of cost and time overruns during the construction period. In 2003, the UK Treasury maintained that its research into completed PFI projects "showed 88% coming in on time or early, and with no cost overruns on construction borne by the public sector. Previous research has shown that 70% of non-PFI projects were delivered late and 73% ran over budget."22 However, the research cited is unscientific and does not support the claim. The key data quoted for non-PFI projects is non-existent.23
_________________________________________________________________________________________________
22 HM Treasury (2003), PFI: Meeting the Investment Challenge (HM Treasury, London).
23 Pollock, A., D. Price and S. Player (2007) 'An Examination of the UK Treasury's Evidence Base for Cost and Time Overrun Data in UK Value-for-Money Policy and Appraisal', Public Money and Management, 27, 2, 127-134.