How British Labour left the taxpayer a £245bn bill: Debt for new schools and hospitals soars fivefold

The true cost of Labour’s expensive Private Finance Initiative scheme was laid bare yesterday as the bill taxpayers face soared fivefold.

Official figures show that 544 PFI projects such as new school and hospital buildings have been launched since 1997.

The original capital cost of the projects agreed under the Labour government was £51.5billion.

But repayments for these will have rocketed to an eye-watering total of £245billion by 2047/8, according to the Treasury.

That is the equivalent of £14,800 for each of Britain’s 16.5million working households. PFI schemes allow governments to put off raising upfront money for new buildings.

ANCAPS: ANARCHO-CAPITALISTS

How British Labour left the taxpayer a £245bn bill: Debt for new schools and hospitals soars fivefold

How British Labour left the taxpayer a £245bn bill: Debt for new schools and hospitals soars fivefold

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