The United Kingdom's National Audit Office (NAO) has warned transportation officials against using "spurious precision" in comparing costs of conventionally and privately financed highways. In an analysis of the first four design-build-finance-operate highways, the independent auditor of government spending found that one project may have been more cheaply implemented in the public sector and expected savings on others were exaggerated. In the first detailed review of the privately operated shadow toll highways, the NAO probed discount rates used by the government's Highways Agency in establishing net present values of fees paid to operators over their 30-year concessions.

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  • Corporate Authors:

    Public Works Financing

    147 Elmer Street
    Westfield, NJ  United States  07090-2433
  • Publication Date: 1998-2


  • English

Media Info

  • Pagination: p. 13
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00747930
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Apr 23 1998 12:00AM