The National Audit Office (NAO) report on the public finance initiative provides a scathing indictment of PFI and PF2, and confirms many of the fears UNISON has been raising for more than 20 years, the union said today (Thursday).
The NAO says there are currently 700 PFI and PF2 deals in operation, and if no
new deals are entered into, they’ll end up costing the taxpayer £199bn by the time they end in the 2040s.
Commenting on the report, UNISON general secretary Dave Prentis said: “The NAO report is a scathing indictment of all that is wrong with PFI.
“After nearly a generation of PFI deals, there’s very little, if any, evidence to prove that anyone – apart from the companies profiting from the huge contracts – has benefitted.
“PFI hasn’t made schools or hospitals run any more efficiently, and the deals that may have seemed to some like a good idea at the time will also have ended up costing significantly more.
“Many local communities might have seen shiny new schools and hospitals constructed, but the spiraling costs have cost taxpayers a fortune. Millions of pounds of public money has been wasted that could have been spent improving public services.”
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