Private Finance Initiative hailed a success

The Private Finance Initiative was last week hailed as a success in a report by think-tank the Social Market Foundation. But the report, commissioned by law firm Bevan Brittan, warns that "urgent work" is needed on long-term management of the PFI, under which private companies can finance public projects without the money having to be included in the chancellor's public sector borrowing requirement. The Future of the Private Finance Initiative is available at www. bevanbrittan.com