REPLAY : PFI Expiry
Olly Mangiapane
01 Apr 2021 • 1hr 30mins
Introduction
Local Partnerships hosted a PFI Expiry webinar on 14 March to provide a practical insight into the key issues to consider when running through a PFI expiry process. The webinar is aimed at contract managers and individuals who have an operational focus.
There are currently over 700 operational PFI contracts, over 400 of these within local government. Each PFI contract has an end point, or expiry date. In the first part of this decade, over 50 operational PFI contracts will reach that expiry date, rising to around 200 contracts over the next 10 years.
Each PFI contract has an end point, or expiry date. In the first part of this decade, over 50 operational PFI contracts will reach that expiry date, rising to around 200 contracts over the next 10 years. The resources required to deal with these contracts will be substantial.
In June 2020, Local Partnerships produced guidance to help the public sector manage the PFI expiry process successfully. In November 2020, we followed this up with a webinar titled “Preparing for the expiry of private finance initiative projects” aimed at strategic decision makers.
Since then, we have:
- appeared as a witness at the Public Accounts Committee as to the preparedness of the public sector for PFI expiry
- provided expert input into the Infrastructure and Projects Authority’s guidance on PFI expiry
- reviewed 11 PFI contracts which are expiring within the next 7 years
- provided targeted expiry support to the Driver and Vehicle Licensing Authority
- undertaken bespoke reviews and support across expiry issues to numerous local authority clients
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