October 2023
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This conference examined the way forward for managing PFI contracts in the UK.
It came with a typical four-year lead-up time for preparation for contract expiry, and more than 70 contracts set to expire before December 2027 and an additional 90 before 2030.
The conference brought together policymakers and key stakeholders to discuss what is needed to support public sector bodies to effectively manage the expiry of PFI contracts and the transition process, with concerns raised by the Public Accounts Committee surrounding complexity, time and resources involved in the process.
Following the publication of guidance from the Infrastructure Project Authority, delegates looked at priorities and best practice for achieving the smooth handback of contracts, value for money and continuity of services, and the future of procurement and project finance following expiry.
Further sessions examined resourcing challenges, including the necessary skills and expertise, as well as how to address concerns surrounding vague contracts in some cases, the bargaining power of public bodies, and who is included in contract negotiations.
Delegates also looked at addressing concerns surrounding inflationary pressures for public bodies that still have a number of years remaining on their contracts.
We are pleased to have been able to include keynote sessions with: Matthew Vickerstaff, Deputy Chief Executive Officer and Head of Project Finance, Infrastructure and Projects Authority; Simon Reason, Director, National Audit Office; Matthew Rees, Director, National Audit Office; Rosie Pearson, Corporate Director, Local Partnerships; and Jessica Evans, Partner, Burges Salmon.
Overall, sessions in the agenda included:
- managing handback:
- expiry of PFI contracts: best practice and key issues - preparing for and delivering contract expiry - resources and skills - planning for a smooth transition
- existing PFI contracts: governance challenges - strategic support and guidance - enabling effective asset management moving forward
- ensuring continuity:
- risks to infrastructure and ensuring the continuity of key public services
- evaluating asset data and performance, coordination on required work, and developing effective system handovers
- managing PFI assets and services at the end of contracts - the impact of PFI expiry on corporate finance and the commercial lifecycle
- moving forward from PFI:
- developing public service delivery models and local and national procurement processes following PFI expiry
- creating value for money, improving environmental sustainability, and ensuring fair competition for future contracts
- private-public collaboration and the future for service delivery
The conference was an opportunity for stakeholders to consider the issues alongside key policy officials who attended from the Cabinet Office, DBT; DfT; DLUHC; FCDO; HM Treasury; and The Scottish Government.
