Taxpayers to foot £200bn bill for PFI contracts – audit office

Cost of privately financing projects ‘can be 40% higher’ than using public money

Taxpayers will be forced to hand over nearly £200bn to contractors under private finance deals for at least 25 years, according to a report by Whitehall’s spending watchdog.

In the wake of the collapse of public service provider Carillion, the National Audit Office found little evidence that government investment in more than 700 existing public-private projects has delivered financial benefits.

Continue reading…

Read full original article »