Reform of the public-private partnership system in the United Kingdom – implications for the Polish system Cover Image

Reforma systemu partnerstwa publiczno-prywatnego w Wielkiej Brytanii – implikacje dla systemu polskiego
Reform of the public-private partnership system in the United Kingdom – implications for the Polish system

Author(s): Michał Barszcz
Subject(s): Economy, Law on Economics
Published by: Łódzkie Towarzystwo Naukowe
Keywords: public-private partnership; Project Finance 2

Summary/Abstract: In December 2012, the British HM Treasury published a document aiming to change the current system of public-private partnership (Private Finance Initiative – PFI), into a new model called Project Finance 2 (PF2). This paper presents the essence of and the reason behind this reform and indicates the possibilities of using British experiences in the development of public-private partnership in Poland. The article characterizes four major trends in the British system, being (1) to increase the rate of value for money, (2) to improve the transparency and centralization of project management, (3) to increase the efficiency of projects through the increase of knowledge on PPP and by developing standardization of contracts, and (4) to improve the flexibility of ongoing initiatives at the operational level. The study identifies fundamental weaknesses of the partnership system in Poland – the insufficient level of knowledge about the partnership system among the potential parties within a contract, insufficient knowledge of economics and investment management among public entities officials and the low level of PPP projects standardization. Furthermore, following the example of the British reform, the study recommends solutions to these barriers, such as introduction of public officials’ competence development system and development of standards of good practices in PPP projects.

  • Issue Year: 2015
  • Issue No: 94
  • Page Range: 203-217
  • Page Count: 15
  • Language: Polish