Hearing that we had achieved 98% overall satisfaction was probably the first time in my professional career where I have had an emotional response.

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.

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