TY - JOUR
T1 - Taking its toll: The private financing of roads in Spain
AU - Acerete, Basilio
AU - Shaoul, Jean
AU - Stafford, Anne
PY - 2009/1
Y1 - 2009/1
N2 - The article analyses the cost of using private finance to build, finance and maintain toll roads in Spain. Spain is the primary exponent of private finance for roads in Europe, where the case rested on the lack of public finance, in contrast to the UK that has stressed value for money. The evidence shows that more than half of the toll charge represents the cost of finance; the cost of private finance is nearly double the cost of public finance; and financing is underpinned by various forms of public support creating risks for the taxpayers. © 2009 CIPFA.
AB - The article analyses the cost of using private finance to build, finance and maintain toll roads in Spain. Spain is the primary exponent of private finance for roads in Europe, where the case rested on the lack of public finance, in contrast to the UK that has stressed value for money. The evidence shows that more than half of the toll charge represents the cost of finance; the cost of private finance is nearly double the cost of public finance; and financing is underpinned by various forms of public support creating risks for the taxpayers. © 2009 CIPFA.
UR - https://www.scopus.com/pages/publications/70449652327
U2 - 10.1080/09540960802617327
DO - 10.1080/09540960802617327
M3 - Article
SN - 0954-0962
VL - 29
SP - 19
EP - 26
JO - Public Money and Management
JF - Public Money and Management
IS - 1
ER -