PFI contracts delivering 'above expectations,' say auditors

Most NHS private finance initiative (PFI) schemes are achieving the value for money expected of them when the contracts were signed, according to the National Audit Office.

A report into the management of PFI contracts admits there will continue to be risks to their value in the long term, but they have been well run to date.

PFI contracts use private contractor providing funding to build and maintain hospital buildings and in some cases provide support services typically including catering, cleaning and portering. They have been criticised as unnecessarily costly, complex, and wasteful.  

But the report says that most contracts are performing 'satisfactorily or better and meeting the expectations of trusts.'

The total capital value of PFI schemes is around £6bn. 12% of the UK's 70 PFI contracts are held by PCTs.

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