The role of private finance in public investment
The report shows that PFI is not value for money, despite the coalition government backing this form of investment. It warns that the cost of PFI has risen astronomically following the financial crisis and the gap between the rate at which the government and the private sector can borrow has widened dramatically.
The role of private finance in public investment
Reclaiming the Initiative - putting the public back into PFI
The report catalogues how ever-growing billions of public money has become locked into financing massively expensive PFI schemes. The Government has committed taxpayers, for a generation to come, to a bill of more than £217bn worth of repayments between now and 2033/34 on just £64bn of PFI projects. PFI’s reliance on the private sector was supposed to give public building programmes more rigour and strength but, as the union’s latest report - “Putting the Public Back into PFI” – shows, in reality it has exposed them to greater hazards and weaknesses. Public projects have been tainted by private failure
Reclaiming the Initiative - putting the public back into PFI
Refinancing: profiteering from public services
Lots of PFI contractors are 'refinancing' their loans - changing the terms of their borrowings to increase profits by as much as 80%. Most public bodies making PFI deals have allowed contractors to keep all these windfall profits. The National Audit Office and the Public Accounts Committee have condemned these arrangements and said the benefits of refinancing should be shared between contractor and client.
Refinancing: profiteering from public services
What is wrong with PFI in schools
As more PFI schools are built it becomes possible to judge their success. UNISON has members intimately involved in PFI. This report draws on their experience and rounds up the evidence to date.
What is wrong with PFI in schools
PFI: Against the Public Interest
The report analyses the failings of the government's private finance initiative and public private partnerships, highlighting high profile contracts which have failed and PFI companies, such as Ballast which went into receivership.
PFI: Against the Public Interest
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