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Public–private partnership: Difference between revisions
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The late 20th and early 21st century saw a clear trend toward governments across the globe making greater use of various PPP arrangements.<ref name=":1" /> Pressure to change the model of public [[procurement]] was associated with the [[Neoliberalism|neoliberal]] turn. Instigators of the policy portrayed PPPs as a solution to concerns about the growing level of [[public debt]] during the 1970s and 1980s. They sought to encourage private [[investment]] in [[infrastructure]], initially on the basis of ideology and [[accounting]] fallacies arising from the fact that public accounts did not distinguish between recurrent and capital expenditures.<ref name=":0" />{{rp|chapter 1}} | The late 20th and early 21st century saw a clear trend toward governments across the globe making greater use of various PPP arrangements.<ref name=":1" /> Pressure to change the model of public [[procurement]] was associated with the [[Neoliberalism|neoliberal]] turn. Instigators of the policy portrayed PPPs as a solution to concerns about the growing level of [[public debt]] during the 1970s and 1980s. They sought to encourage private [[investment]] in [[infrastructure]], initially on the basis of ideology and [[accounting]] fallacies arising from the fact that public accounts did not distinguish between recurrent and capital expenditures.<ref name=":0" />{{rp|chapter 1}} | ||
In 1992, the [[Conservative Party (UK)|Conservative]] government of [[John Major]] in the | In 1992, the [[Conservative Party (UK)|Conservative]] government of [[John Major]] in the United Kingdom introduced the [[Private finance initiative]] (PFI),<ref name="RP01-117">{{cite web|last1=Allen|first1=Grahame|title=The Private Finance Initiative (PFI) Commons Briefing papers RP01-117|url=http://researchbriefings.files.parliament.uk/documents/RP01-117/RP01-117.pdf|website=UK Parliament: House of Commons Library|publisher=UK Government|access-date=20 January 2018|ref=RP01-117}}</ref> the first systematic program aimed at encouraging public–private partnerships. The 1992 program focused on reducing the [[public sector borrowing requirement|public-sector borrowing requirement]], although, as already noted, the effect on public accounts was largely illusory. Initially, the private sector was unenthusiastic about PFI, and the public sector was opposed to its implementation. In 1993, the [[Chancellor of the Exchequer]] described its progress as "disappointingly slow". To help promote and implement the policy, Major created institutions staffed with people linked with the [[City of London]], [[accountancy]] and [[consultancy]] firms who had a vested interest in the success of PFI. | ||
[[File:Tony Blair in 2002.jpg|thumb|During his first term in office, Tony Blair made public-private partnerships the norm for government procurement projects in the United Kingdom.]] | [[File:Tony Blair in 2002.jpg|thumb|During his first term in office, Tony Blair made public-private partnerships the norm for government procurement projects in the United Kingdom.]] | ||
Around the same time, PPPs were being initiated haphazardly in various [[OECD]] countries. The first governments to implement them were ideologically [[Neoliberalism|neoliberal]] and short on [[Government revenue|revenues]]: they were thus politically and fiscally inclined to try out alternative forms of public procurement. These early PPP projects were usually pitched by wealthy and politically connected [[business magnate]]s. This explains why each countries experimenting with PPPs started in different [[Economic sector|sectors]].<ref name=":0" /> At that time, PPPs were seen as a radical reform of government service provision.<ref name=":5">{{Cite journal|last1=Franceys|first1=Richard|last2=Weitz|first2=Almud|date=November 2003|title=Public-private community partnerships in infrastructure for the poor|url=https://onlinelibrary.wiley.com/doi/10.1002/jid.1052|journal=Journal of International Development|language=en|volume=15|issue=8|pages=1083–1098|doi=10.1002/jid.1052|issn=0954-1748}}</ref> | Around the same time, PPPs were being initiated haphazardly in various [[OECD]] countries. The first governments to implement them were ideologically [[Neoliberalism|neoliberal]] and short on [[Government revenue|revenues]]: they were thus politically and fiscally inclined to try out alternative forms of public procurement. These early PPP projects were usually pitched by wealthy and politically connected [[business magnate]]s. This explains why each countries experimenting with PPPs started in different [[Economic sector|sectors]].<ref name=":0" /> At that time, PPPs were seen as a radical reform of government service provision.<ref name=":5">{{Cite journal|last1=Franceys|first1=Richard|last2=Weitz|first2=Almud|date=November 2003|title=Public-private community partnerships in infrastructure for the poor|url=https://onlinelibrary.wiley.com/doi/10.1002/jid.1052|journal=Journal of International Development|language=en|volume=15|issue=8|pages=1083–1098|doi=10.1002/jid.1052|issn=0954-1748}}</ref> | ||