PROPPING UP PFI WITH PUBLIC MONEY IS ECONOMICS OF THE MADHOUSE.

PROPPING UP PFI WITH PUBLIC MONEY IS ECONOMICS OF THE MADHOUSE.

Commenting on the strong likelihood that the Chancellor is set to announce a multi-billion pound injection of extra funding into PFI projects SNP Treasury spokesperson, Stewart Hosie MP, called the move the economics of the madhouse .
Mr Hosie said:
"Labour have bailed out the bankers, and now Alistair Darling seems set on propping-up PFI projects. This humiliating bail-out is not only the clearest indication that PFI has failed but is the economics of the madhouse.

"Why is public money being used to prop up a system that gives such a bad return compared to traditional public procurement?

"The cost of propping out Labours PFI projects will make Sir Fred Goodwin’s pension arrangements look like pocket change.

”As if any further evidence was needed, the grotesque folly of building public services through private finance is plain to see.
“Alistair Darling has absolutely no financial credibility left. PFI is a millstone round the UK’s neck and he is set to add more weight to that debt millstone and burden taxpayers with even more taxes to pay for it.
"Instead of sensible public investment the Labour Government has been ripped off by a credit card style con.”