Private finance: bridging the gap for the UK's Dartford and Skye bridges?

Abstract

This article investigates the outcomes in terms of the cost to both the taxpayer and road users of using private finance to build and operate the Dartford crossings and the Skye bridge. It provides the detailed financial evidence that confirms the broader international experience that the use of private finance in public infrastructure requires considerable political subventions to make projects financially viable.

Acknowledgements

The authors gratefully acknowledge research funds from the Institute of Chartered Accountants of Scotland; research support by the University of Manchester's Research Centre for Socio-Cultural Change (CRESC), which bought out Jean Shaoul's time in 2007 for her to work on this project; and research assistance from Peter Macdonald.

Notes

* In 1991, when the bridge opened, charges for the crossings were £1.40 for cars and £2.20 for HGVs each way. They are currently (for drivers who are not local residents and pre-pay electronically) £1.00 for cars and £3.20 for HGVs; for users who do not prepay the charges are £1.50 for cars and £3.70 for HGVs. There is no charge between 10 p.m. and 6 a.m.

* After devolution in 1999, the Scottish Office became the Scottish Executive, which in 2007 became known as the Scottish Government.