¹Office for National Statistics

Clarifies the treatment in the National Accounts and describes some of the work taking place in this area

The introduction of International Financial Reporting Standards (IFRS) in accounting for Private Finance Initiative (PFI) assets has led to media comment about the impact on the Government's debt measure and how this will affect PFI procurement in the future. The author of this article, who recently gave evidence to the Treasury Committee on this subject, sets the record straight and describes some of the work taking place in this area.

Full Version

The Full Text of this article can be found on the National Statistics website(http://www.statistics.gov.uk/elmr/05_08/downloads/elmr_may08_kellaway.pdf).