A STUDY conducted by academics at University College London, has blown apart the notion that Private Finance Initiative (PFI) schemes for public services offer value for money to the taxpayer.
Four hundred and one PFI schemes are up and running, covering schools, hospitals, prisons, university buildings, police stations etc. at a known cost to the taxpayer of £36 billion. Yet, as the study points out, the actual deals with the private companies concerned are complex and secretive, removed from public scrutiny.
Twice, the Public Accounts Committee has complained about the lack of risk/profit analysis in PFI schemes, with the exception of a PFI prison in Liverpool, where profits increased by 61 per cent over original estimates, at a cost to the taxpayer of £10.7 million!
ROGER BANNISTER,
Unison NEC,
(personal capacity).
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