to come
The latest government figures show PFi payments this year totalling f4.5 bilion on the first round of schemes worth just £18 billion. But like the plumbing in a PFI hospital, with deals worth billions more in the pipeline, the flow of cash from public services into the coffers of banks and private industry is set to escalate into a flood
New schemes keep coming, despite these costs and the failures, because
managers, head teachers and others seeking new investment are painfully aware that whatever ministers may claim, PFl is effectively the only game in town". Only 3% of current investment in new hospitals is publicy funded.
But as public sector unions, driven on by the anger of their members at local level, raise the stakes, this could be an interesting trial of strength in the nearest New Labour has to a public policy-making event