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Private Money in Public Expenditure

In: The Evolution of Public Management

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  • Nicholas G. Terry

Abstract

The government’s policy of privatising utilities and the private financing of new national infrastructure is intended to secure the benefits of introducing the ‘market’ into activities that had previously been exclusively those of the public sector. In particular, the aim is to improve economic efficiency (rather than social efficiency) and consumer choice through ‘competition’, and to increase infrastructure provision and replacement through private sector supply. This chapter will explore some of the issues raised by the latter objective, and the current mechanism for initiating, operating and funding infrastructure projects. The questions of the likely limits to using private money and the prerequisites for fully exploiting the potential benefits of the policy will also be considered. Ultimately, a number of lessons emerge for those charged with balancing the inevitable disciplines imposed by capital markets and the legitimate concerns of public sector managers.

Suggested Citation

  • Nicholas G. Terry, 1992. "Private Money in Public Expenditure," Palgrave Macmillan Books, in: Colin Duncan (ed.), The Evolution of Public Management, chapter 3, pages 49-64, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11473-3_3
    DOI: 10.1007/978-1-349-11473-3_3
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