Privately financed capital in public services

被引:13
作者
Heald, D
机构
来源
MANCHESTER SCHOOL OF ECONOMIC AND SOCIAL STUDIES | 1997年 / 65卷 / 05期
关键词
D O I
10.1111/1467-9957.00082
中图分类号
F [经济];
学科分类号
02 ;
摘要
Recent changes in U.K. policy, notably the retirement of the 1981 Ryrie rules, presage a substantial increase in the use of private finance for public sector projects. The most important features of the relaxations of 1989 and 1992 relate to successive modifications of the value-for-money test, notably in connection with removing the requirement for a systematic comparison with a hypothetical publicly financed project (e.g. when the private sector can be directly remunerated by user tolls); less stringent rules on leasing; and allowing private borrowing on the security of Exchequer-funded assets. The crucial issues are identified to be the extent of private finance and the implications for macroeconomic indicators; whether the hypothesized operational efficiency gains are sufficient to offset higher financing costs; whether risk is genuinely transferred to the private sector; and whether risk ought to be transferred to the private sector.
引用
收藏
页码:568 / 598
页数:31
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