NAO REPORT SHOWS PFI ‘CATASTROPHIC WASTE OF TAXPAYER’S MONEY' SAYS GMB
This report should mean that the game is up for PFI - it's time to properly fund our public services upfront instead says GMB.
GMB, Britain’s general union, says today’s NAO report shows PFI is a ‘catastrophic waste of taxpayer’s money'.
The UK currently has 700 operational PFI and PF2 deals, with a capital value of around £60 billion. 
These deals cost a massive £10 billion a year and will have cost the taxpayer an eye-watering £199 billion by the time they end in the 2040s.
Rehana Azam, GMB National Secretary, said:
"The NAO’s figures show what we’ve all known for some time – that PFI is a catastrophic waste of taxpayer’s money.
“Nothing can hide the chronic failure than its proven to be over decades - Carillion is just the latest example of how bad things go wrong when public services are left in the hand of profit-hungry companies.
“Once the shiny facade comes off, PFI deals are financial time bombs that leave public bodies shackled into decades of eye-watering payments, public services unaccountable to the people and the taxpayer on the hook when things go wrong.
"It's shameful that our NHS Trusts and schools are spending an eye-watering £10 billion each year on their PFI contracts - that's money that should be spent on patients and children's education instead.
"This report should mean that the game is up for PFI - it's time to properly fund our public services upfront instead."
Contact: GMB Press Office on 07958 156846 or at firstname.lastname@example.org
Notes to editors:
 For a copy of the NAO report contact email@example.com