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<p>The vast majority of PFI projects were signed under the last Labour government
– 620, or 86% of all PFI projects in the UK. Since coming to office in 2010, this
Government has reformed the approach so that now, PF2 contracts deliver better value
for money for the taxpayer.</p><p> </p><p>We have also improved the VfM we get from
existing PFI contracts, and this will deliver over £2 billion in efficiencies over
the remaining life of the contracts.</p><p> </p><p>The performance of PFI and PF2
contracts is monitored by the procuring authority. The government has published a
range of advice on managing PFI and PF2 contracts, covering areas such as operational
savings, refinancing and termination. HM Treasury assesses and responds to fiscal
and financial risks as part of its ongoing business activities.</p>
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