Business
Hidden PFI debt piles up on prestige projects
Express & Star 13 Feb 10
The cost of building schools, homes and installing street lights in the West Midlands will run to almost £2 billion – four times their value. This news comes just days after it was revealed new hospitals built under the private finance initiative will cost taxpayers many times more than they are worth. PFI works like a mortgage, in which a council pays for a scheme by using private funds and pays back the money over a number of years…