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Mon October 25 2021

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Schools to be first to use PF2

5 Dec 12 The £1.75bn privately-financed element of the Priority Schools Building Programme (PSBP) will be the first programme to be procured under the government’s new PF2 model.

Image courtesy of Interserve
Image courtesy of Interserve

PF2 is the revised version of the private finance initiative (PFI), which sees the taxpayer holding a minority stake in project vehicles in a bid to improve accountability and transparency.

The Treasury has been working the Department for Education in the development of PF2, and also the Ministry of Defence to explore how much of the ‘Future Force 2020’ construction and maintenance activity can be delivered through PF2.

In the health sector the Sandwell & West Birmingham Hospitals NHS Trust is working with the Department of Health to assess the suitability of PF2 for its projects.

The Treasury will also work with other government departments to assess what future projects might be eligible for PF2.

For full details of PF2, see http://www.hm-treasury.gov.uk/d/infrastructure_new_approach_to_public_private_parnerships_051212.pdf

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MPU

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