The great big PFI scam
Submitted by JG on Thu, 09/08/2007 - 10:07Private Funding Initiatives (PFIs) - the best way to finance a major project at the same time as keeping the risk away from the taxpayer. In theory. The latest example of where the taxpayer always gets shafted in the end is the new build in PFI schools. In a report today, MPs said that half the Government's £45 billion investment that was financed by PFI was a "risk" which could result in local councils paying over the odds for new schools. The problem lies in the length of the contracts. PFIs are usually signed for 30 year periods. If a school closes before the contract