Despite bold assertions by Shadow Chancellor John McDonnell MP regarding the breaking of water-tight contracts to remove Labour’s own toxic private finance initiative (PFI) legacy, its impact continues to be felt across Scotland.
The SNP has called on Labour and the Lib Dems to apologise for their disastrous legacy that is now costing Scottish taxpayers £1,009 million a year, up from £995 million in the previous year and still rising.
Commenting, SNP MP Patricia Gibson said:
“The scale of PFI repayments is now absolutely staggering, showing the sheer incompetence and damaging legacy of the previous Labour and Lib Dem Scottish Executive which is holding Scotland back to this day.
“Both parties sought to buy votes by delivering projects at sky-high costs that would have to then be paid for over 30 years. In North Ayrshire £401 million will have to be paid for schools with a capital cost of only £83 million.
“The PFI contracts for schools across Scotland alone, will cost the public purse £426 million this year and £12.7 million in North Ayrshire, leaving council taxpayers to pay way over the odds for years to come. Many of the buildings weren’t even built to basic standards, causing serious safety concerns and school closures across Edinburgh and won’t even be owned by the councils once paid for.
“Labour and Lib Dem enthusiasm for ruinously expensive PFI deals is still costing the public purse eye-watering sums of money that could have been spent on improving important public services instead being diverted to pay off their enormous debts.”