Return to water charges menu
Costs quadruple under PFI

Recently released figures have revealed that the decision by Government to develop infrastructure projects through PFI will lead to a quadrupling of the cost.  Among the public works soaring in price under PFI schemes are sewage upgrades and road developments. Other projects include new colleges, hospitals, the replacement of vehicle testing equipment and the new headquarters for Invest NI.  The total capital value of these projects is only £65.5 million.  But under PFI, which stretches payment over 20 or 30 years, they will end up costing the public nearly three billion pounds!   For example, the project to design a new further education college in Omagh leaps from £16 million in 2006 to £123 million in 2036. Spending on upgrading the MI and Westlink in Belfast and M2 improvements will cost £409 million by 2037, inflated from an immediate value of £118m.  These figures expose the myth that projects built through PFI are more cost effective.  In reality they are a rip off.  The companies that take them on are being handed a licence to print money by the Government as billions in public resources are transferred to private hands.


Return to top of page