Private Finance initiative (PFI) contracts have been and will be with us for some considerable time but there’s an ever-increasing number of PFI contracts now set to expire.

Critical infrastructure in the UK has been severely tested by the current pandemic. As life changed in an instant for many our service industries had to respond.

The UK is set to spend over £9bn this year on PFI contracts – and a total of £48bn in the next five years. This level of spending will continue until we see the first peak in contracts expiring around 2030. Expiry will see assets worth £14bn (their original capital value) transferring back to public ownership.