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Keywords:

  • Department of Health;
  • hospitals;
  • hospital-building programme;
  • National Health Service;
  • Private Finance Initiative;
  • PFI;
  • procurement

This article outlines and critiques the main fiscal and economic rationales for the Private Finance Initiative and examines the impact of the policy on the long-term financial viability of NHS trusts. It concludes that the PFI funding of capital investment is highly problematic. Its high costs can have a negative impact on the finances of health systems.