The cost of using private finance for roads in Spain and the UK

Jose Basilio Acerete, Jean Shaoul, Anne Stafford, Pam Stapleton

Research output: Contribution to journalArticlepeer-review


Within the context of the growing worldwide tendency to fund road construction, operation and maintenance through a variety of private financing arrangements, this article explores the implications of recent road developments in Spain and England. Among other things, it shows that the use of private financing mechanisms is problematic in relation to the cost of risk transfer, and that the lack of information due to commercial sensitivity acts as a deterrent to objective assessment. The pessimistic conclusion is that, in these arrangements, downside risks are borne by the state, and the authors argue that using private financing for roads is another case of 'privatising the benefits and nationalising the costs'. © 2010 The Authors Journal compilation © 2010 National Council of the Institute of Public Administration Australia.
Original languageEnglish
Pages (from-to)S48-S60
JournalAustralian Journal of Public Administration
Issue number1
Publication statusPublished - Mar 2010


  • Design build finance and operate
  • Private finance
  • Private finance initiative
  • Roads
  • Spain
  • Tolls
  • United Kingdom


Dive into the research topics of 'The cost of using private finance for roads in Spain and the UK'. Together they form a unique fingerprint.

Cite this