The Government will lend £2bn of public money to private firms building schools and other projects under the Private Finance Initiative (PFI). There have been concerns that projects like the M25 widening scheme would be held up, as firms faced difficulties raising money due to the credit crunch.
So the government funds the equity in the SPV’s, and is party to a contract that would put the assets of the books in the private sector. So who holds the risk. Either the government as funder of the SPV or the government as the end user.