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NHS CAPITAL INVESTMENT AND PFI: FROM CENTRAL RESPONSIBILITY TO LOCAL AFFORDABILITY
Author(s) -
Shaoul Jean,
Stafford Anne,
Stapleton Pamela
Publication year - 2011
Publication title -
financial accountability and management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.661
H-Index - 44
eISSN - 1468-0408
pISSN - 0267-4424
DOI - 10.1111/j.1468-0408.2010.00508.x
Subject(s) - private finance initiative , finance , investment (military) , business , corporation , capital investment , capital (architecture) , capital expenditure , accounting , private sector , economics , economic growth , political science , archaeology , politics , law , history
At its inception, the NHS was structured as a public corporation, which owned its hospitals. Sixty years on, hospitals are business units or Trusts, which are responsible for capital investment in a local region. The Private Finance Initiative (PFI) has become the predominant mode of financing new hospitals. This paper's purpose is to review the impact of PFI. A literature review traces the various stages of the NHS' hospital investment programme and the research method is a case study. The findings show that PFI is leading to additional costs and complexity that make the achievement of the NHS's objectives difficult.