Private Finance Initiative in the context of "Government procurement"

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⭐ Core Definition: Private Finance Initiative

The private finance initiative (PFI) was a United Kingdom government procurement policy aimed at creating "public–private partnerships" (PPPs) where private firms are contracted to complete and manage public projects. Initially launched in 1992 by Prime Minister John Major, and expanded considerably by the Blair government, PFI is part of the wider programme of privatisation and macroeconomic public policy, and presented as a means for increasing accountability and efficiency for public spending.

PFI is controversial in the UK. In 2003, the National Audit Office felt that it provided good value for money overall; according to critics, PFI has been used simply to place a great amount of debt "off-balance-sheet". In 2011, the parliamentary Treasury Select Committee recommended:

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Private Finance Initiative in the context of Tramlink

Tramlink, previously Croydon Tramlink and currently branded as London Trams, is a light rail tram system serving Croydon and surrounding areas in South London, England. It is the first operational tram system serving the London region since 1952. Tramlink is presently managed by London Trams, a public body part of Transport for London (TfL), and has been operated by FirstGroup since 2017. It is one of two light rail networks in Greater London, the other being the Docklands Light Railway. Tramlink is the fourth-busiest light rail network in the UK behind the Docklands Light Railway, Manchester Metrolink and Tyne and Wear Metro.

Studies for the delivery of a modern-day tram system in Croydon began in the 1960s and detailed planning was performed in the 1980s. Approval of the scheme was received in 1990 and, following a competitive tender process, construction and initial operation of the tramway was undertaken by Tramtrack Croydon (TC) via a 99-year Private Finance Initiative (PFI) contract. The official opening of Tramlink took place on 10 May 2000; by the end of the year three routes were operational. The network consists of 39 stops along 28 km (17 mi) of track, on a mixture of street track shared with other traffic, dedicated track in public roads, and off-street track consisting of new rights-of-way, former railway lines, and one right-of-way where the Tramlink track runs parallel to a third rail-electrified Network Rail line. The network's lines coincide in central Croydon, with eastern termini at Beckenham Junction, Elmers End and New Addington, and a western terminus at Wimbledon, where there is an interchange for London Underground.

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Private Finance Initiative in the context of Serco Marine Services

Serco Marine Services is a Private Finance Initiative contract, with Serco Group, to deliver auxiliary services to His Majesty's Naval Service (incl. Royal Navy, Royal Marines and Royal Fleet Auxiliary).

Marine Services primarily operates from the nation's three main naval bases, HMNB Portsmouth, HMNB Devonport and HMNB Clyde, but also supports training and operations overseas, as well as at various British Overseas Territories.

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