Ahh! The joys of PFI! Queen Alexandra's Hospital in Portsmouth was built on one of these ... and the Hospital is now £M's in dept because of it. Are there any PFI's out there that have actually worked or is it just a brilliant idea to make someone a lot of dosh???? It worries me as the local Council over here on South Island have spent years letting the roads crumble without spending anything to repair or update them ... now they have a PFI to refurbish the road network and I have this horrible gut feeling that for the next upteen year the council tax is going to go through the roof to pay for it! Crabs look as it they are paying to price of a PFI paying £150M per aircraft that they could have got for £50M + £10M to convert it! Math(s) wrong somewhere!
The only reason any PFI contract has looked better than the cost for paying up front was/is because the figures were fiddled in PFI's favour.The "live now pay later" plan has attracted politicians because they can get major contracts built by the private sector and no debt appears in the "borrowed" column of the government books.The Tory government of John Major first thought of PFI but it was Gordon Brown who picked up the ball and ran with it.So desperate were Labour to get these things underway they let the Private Companies dictate the terms hence debt for all the projects which will last 20 or 30 years.The Coalition have been a lot less keen on PFI but it is not dead and buried by any means.