Bill to buy out Scots PFIs

A contender in the Scottish Labour leadership race is bringing forward a bill to buy out all existing PFI contracts in Scotland.

Neil Findlay MSP is in the running to become the new leader of the Scottish Labour Party, with balloting already underway and the new leader due to be announced on 13 December.

However, Findlay has said that regardless of whether he wins the election, he will be bringing forward a new bill in the coming weeks to buy out existing PFI contracts and refinance them.

According to Findlay, this could “put £12bn into public services” in the long-term.

“In arguing for it we’ll be contrasting our values with those of the SNP,” he claimed, although he did not suggest that he would lobby for the buyout of non-profit distributing (NPD) projects as part of the deal.

Scotland saw a swathe of PFI contracts signed in the country prior to the Scottish National Party’s rise to power in Holyrood in 2007, when it then began to develop the NPD scheme as an alternative model.