P.F. Eye
A Private Eye Special Report By Paul Foot
An Idiot's Guide to the PFI.
Norman Lamont tinkered with it. John Major approved it. But the intellectual thrust for the idea of the Private Finance Initiative (PFI) came from David Willetts, the Tory frontbencher nicknamed 'Two Brains'.
This is the story of the PFI: how it became a jewel in the crown of New Labour, its savings, its costs, its pitfalls and windfalls, and how it changed the face of British accountancy and British politics.
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