pfi finance
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A litany of disasters has made shared services easy to swallow
Comment Well, news broke earlier this year that private companies stand to reap profits of £3.3bn from the government's controversial PFI initiatives, which understandably got the hackles of taxpayers up. In a nutshell, shared services are about the... [20 Jun 2007]
PFI projects on the up
News The number of private finance initiative (PFI) contracts signed in the UK - many for large projects with IT at their core - is set to increase. Research out from IFSL (formerly British Invisibles) shows that by the end of last year, 780 PFI... [24 Apr 2006]
Delayed national MOT database finally completed
News The Vehicle and Operator Services Agency (Vosa) awarded the 10-year £230m private finance initiative (PFI) contract to Siemens Business Services (SBS) back in 2000 with the aim of rolling out the system to garages from May 2002 but faults... [07 Apr 2006]
Photos: MOT database targets illegal cars
Photo The 10-year £230m private finance initiative (PFI) contract was awarded by the Vehicle & Operator Services Agency (Vosa) to Siemens Business Services (SBS) in 2000. The MOT computerisation project is the single biggest change to the testing scheme... [07 Apr 2006]
UK motorways to get £490m PFI telecoms upgrade
News The Highways Agency (HA) has signed a £490m private finance initiative (PFI) deal to upgrade the telecommunications network that links all the information systems across the UK road network. The single national PFI deal has been won by a Fluor-led... [19 Sep 2005]
MOT computerisation PFI project delayed again
News The Vehicle and Operator Services Agency (Vosa) awarded the 10-year £230m private finance initiative (PFI) computerisation contract to Siemens Business Services back in 2000. Tait said SBS' costs had increased under the terms of the PFI contract as... [22 Jun 2005]
Conwy County Borough Council - The Three Schools Private Finance Initiative Project
White Paper Given the limited capital resources available, the council decided to explore the PFI route as a means of improving its assets. The project is one of the largest local government PFI Projects in Wales to date. [28 Apr 2005]
PFI companies may have to be more revealing
News Companies in PFI (private finance initiative) and government outsourcing contracts may have to reveal more than they bargained for when the Freedom of Information Act comes into force next year. Thomas also suggested that companies involved in PFI... [12 May 2004]
MPs slam 'appalling' £400m criminal-background vetting system
News The £400m PFI Criminal Records Bureau (CRB) for vetting staff who work with children and vulnerable adults was so "appallingly planned" that it went live despite concerns the system was not ready, resulting in a backlog of delays in vital... [12 Feb 2004]
"Disastrous" £400m courts IT project slammed by MPs
News The 10-year deal for the Libra system across 300 magistrates courts was initially signed with sole bidder ICL, now Fujitsu Services, back in 1998 for £184m under the private finance initiative (PFI) framework. [11 Nov 2003]
Government scraps PFI for IT projects
News One of the objectives of using the PFI model in IT was to introduce third-party finance into IT projects to transfer more risk to the vendor. A report by the Treasury 'PFI: meeting the investment challenge' concluded that while PFI was working in... [16 Jul 2003]
5 years ago... Delays hit £70m Siemens immigration database
News 15.07.98 Siemens Business Services (SBS) admitted today for the first time that its £70m Private Finance Initiative (PFI) scheme to supply an immigration caseworking database to the Home Office is running at least six months late. [15 Jul 2003]
Capita hit with £1.8m penalty for delays to criminal records IT system
News There have been problems with the troubled £400m private finance initiative (PFI) CRB contract since its launch last year with massive backlogs delaying checks on employees who would be working with potentially vulnerable adults or children for... [21 May 2003]
Devil's Advocate: Taking risks
Comment When Martin Brampton recently wrote about risk sharing within PFI contracts his inbox soon filled. We do not necessarily have to abandon schemes such as PFI. The idea that PFI involves a sharing of risk does not run deep. [03 Mar 2003]
ICL Post Office fiasco costs UK taxpayers £1bn
News No-one from ICL was available for comment but it did release a statement that said: "The Benefits Payment Card project was part of a ground-breaking public finance initiative (PFI) contract and all the parties have learned important lessons. [18 Aug 2000]
