Jubilee Scotland is currently working on exposing the scale of the PFI (Private Finance Initiative) problem in Scotland. We are looking into what contracts are held by the councils, exploring possibilities for negotiation of service contracts and working on a report which will outline how much public money has been poured into these expensive contracts.
PFIs are a form of “public–private partnerships” (PPPs) where private firms are contracted to complete and manage public projects. PFIs have created enormous debt for the government and local councils in Scotland. A lot of our taxes are going straight towards huge profits for PFI investors. A UK National Audit Office report found that in some cases PPP projects cost around 40% more than projects financed by government borrowing. Addiewell prison cost the public 12 times more having been built using a PFI contract. PFI projects are not just expensive, they are also poorly made. In Edinburgh 17 schools built used PFI contracts had to be closed following the collapse of a wall in one. It was discovered that all of these schools had been built missing their wall ties – a vital structural component in the building. Scotland is full of examples like these.The Scottish Government have criticised PFI contracts, however, a great number still exist and a similar model of financing called a Non-profit Distributing is now used. During the next year, we will pressure every party to commit to ending the use of PFIs in Scotland, exert pressure on local councils and build targeted campaigns around specific contracts.
It is time to end a system where short-term thinking and private greed are draining the public purse. Will you sign our petition to end the use of PFIs in Scotland?
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