PFI in limbo | Features

PFI’s progress: Annual breakdown
Year	Number of signed projects	Capital value (£m)
1987	1	180
1988	0	0
1989	0	0
1990	2	336
1991	2	6
1992	5	518.5
1993	1	1.6
1994	2	10.5
1995	11	667.5
1996	38	1559.5
1997	60	2473.7
1998	86	2706.8
1999	86	2407.3
2000	108	3680.4
2001	84	2150.4
2002	67	7698.9
2003	47	14432.1
2004	7	935.4
N/A*	19	203.2
Total	626	39967.7
(*PFI projects completed but not attributed to a particular year, according to government statistics.)
The table above shows that as the UK PFI market matures, projects have become bigger and have increased the capital value of individual contracts.

What’s the hold-up? CPA’s report on education and healthcare PFIs
Schools
Target	650 rebuilt/remodelled schools to be provided in the period 2001-2004
Progress	Target missed: About 430 schools completed (260 PFI). Remaining 220 PFI schools in pipeline
CPA’s comments	“The growing number of school projects being delivered through PFI and a sharp rise in related construction activity are evidence that good progress has been made. However, the new-build target for April 2004 has been missed, although the remaining projects are under way.”
Health
Target	100 new hospitals by 2010
Progress	33 started before 2001. Improved performance during last year. LIFT schemes started in 2001/04 to 31 against target of 46. Major schemes especially vulnerable to delay. Average nine starts per year required over next four years to secure target
Target	20 treatment centres to be developed by 2004
Progress	Target exceeded: 26 NHS treatment centres open
Target	500 primary care centres by December 2004
Progress	Target at risk: Only 285 primary care centres created by June 2004
Target	3000 GP surgeries to be modernised by December 2004
Progress	Target at risk: Only 2200 modernised by June 2004
CPA’s comments	“The protracted delays to many of the larger, major hospital schemes are of particular concern.”