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Sunday, September 25, 2022

Labour’s PFI Hangover Costs Scotland Over £5 Billion

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Party’s economic negligence driving NHS cash into pockets of wealthy fat cats.

New figures included in the GERS report reveal that public sector has been forced to shell out on billions of over-priced PFI projects, thanks to Labour’s mismanagement of public spending over a decade ago.

While the actual capital cost of Labour’s privately financed projects amounted to around £4 billion, total repayments are now estimated at an eyewatering £22.5 billion – 5.6 times higher than the initial value.

According to the latest figures, costs footed by the taxpayer have amounted totalled more than £5 billion in the last five years alone.

In the last financial year alone, health boards and local authorities across Scotland directly lost £934 million repaying the debts of the former Labour administration.

Commenting, SNP MSP Gordon MacDonald said:

“Labour’s toxic PFI legacy is draining money from our NHS in its time of need, right into the private bank accounts of these business fat cats.  

“£5 billion could have been spent on nurses, doctors and local hospital services.

“But the bills won’t stop anytime soon – the will keep rising every year.

“Labour should be ashamed of themselves – if Richard Leonard had any respectability he’d stand up and apologise for this shambles on behalf of his party.

“Labour cannot be trusted with our public finances ever again.”

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