For immediate release:
“TOXIC LEGACY” LEAVES LOCAL AUTHORITIES PAYING £434 MILLION THIS YEAR ALONE
An analysis by the independent Scottish Parliament Information Centre has revealed that Labour’s disastrous PFI schools scheme is costing councils millions of pounds every year, leaving local authorities to deal with the legacy of toxic deals made over a decade ago.
The duff deals made by Labour during their time in power at Holyrood will cost local authorities £434.3 million in this financial year alone, as Scotland continues to count the cost of Labour’s spell in government.
South Lanarkshire Council is due to pay out £34.1 million in the next financial year, the third highest Council school building PFI liability in Scotland. With most PFI fees running over 25 – 30 years, the companies owning these PFI contracts, many of them based in offshore tax havens, stand to make up to three times the capital value of the buildings.
The total cost of the toxic PFI legacy across all projects topped £1 billion in 2016/17, with this figure continuing to rise.
Commenting, SNP MSP for Rutherglen, Clare Haughey, said:
“Labour’s toxic PFI legacy has left our schools and Councils counting the cost every single year, long after voters removed them from government.
“Their enthusiasm for ruinously expensive PFI deals is still costing the public purse eye watering sums of money – money that could have been spent on delivering better local services – but instead we’re still paying for Labour’s mess.
“They ought to be ashamed of themselves – they’ve left Scotland with a bill that rises every single year and is costing our local authorities £434.3 million this year alone.
“It’s high time that Labour apologised for this toxic legacy that they’ve left for our schools and councils across the country.”
Date published: 19th March 2018