Although devised by the Conservatives, the use of the Private Finance Initiative (PFI) to fund public sector projects has become synonymous with the last eight years of Labour Government. In 2003/04, more than 30% of total public capital investment was invested using PFI - considerable growth since it was launched in the 1992 budget by Norman Lamont, the then Chancellor of the Exchequer.
Lamont's original aim was to achieve closer partnerships between the public and private sectors, as well as...
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