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The fact that we were able to put together a team composed of experts in academy conversions, property and PFI issues made the job much easier and ensured that we were able to offer London Borough of Merton specialist expertise.
Although PFI has met the greater demand for positions created by our heightened operational tempo, the program's success is somewhat impervious to projected DOD budget reductions because of its unique funding methods.
Chang Sheng-ho, minister of finance, remarked that since PFI contracts may last 20-30 years, government units should pay special attention to long-term financial planning and establish periodical review system.
Adding in other payments, Unison Scotland's At What Cost report calculated the additional cost of PFI schemes at pounds 2.
He added: "Once the PFI costs are budgeted for we do not have to worry about the repair and maintenance or upkeep of the building and its facilities.
Their intention is not to tie themselves to the same kind of long-term commitment to hard and soft maintenance contracts that have undermined the value for money of many PFI projects in past - so they are in a good place.
In June hospital bosses told the Telegraph they would welcome any assistance to reduce the cost of their PFI deal, but had planned for the repayments and were confident they could keep balancing the books.
In other words, PFI has been promoted as providing more and better projects and services.
Best notes that while total leverageCoboth financial and operating leverageCohas increased in recent years, PFI has shown significant improvement in its historical fixed charge coverage ratios and has significantly strengthened the liquidity of its balance sheet as measured by its strong cash and cash equivalent ratio to equity.
The government is committed to ensuring taxpayers get value for money from PFI contracts.
In 2009/10 NHS trusts in England spent PS459m repaying PFI debts.
The Great PFI Swindle on Panorama described school and hospital projects in England, but not waste incinerators and PFI road projects like the A55 expressway and Cardiff's Lloyd George Avenue in Wales.
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