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.

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.