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Pfi - Borrow And Spend Is Back

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Osborne backs pfi projects

George Osborne, the chancellor, is pressing ahead with private finance initiative (PFI) projects on a multibillion-pound scale despite having dismissed the infrastructure funding mechanism as "discredited" when he was in opposition, research has revealed.

A report on Channel 4 News shows 61 PFI projects, worth a total of £6.9bn, have been taken forward since the general election. This is despite claims that private sector borrowing costs currently make PFI particularly poor value for money.

Of the 61 projects being negotiated, 39 are due to be signed off this year, against 32 in 2008 and 38 in 2009, when Gordon Brown was prime minister.

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Good to see Osborne can win, criticised for cutting spending and criticised for spending more. Surely the Guardian should be praising him for boosting the economy...

The main problem with PFI is the interest charges paid v what rate the government would pay directly. Without figures to compare it is hard to judge, also depends on how risky the projects are to cost over runs etc.

Anyone who has read the “austerity” budget would have realised pretty quickly that borrow and spend never left and has only been slowed down slightly.

All our papers seem to get worse by the day. Seems to be sheer desperation due to falling circulation the stories get more biased and sensationalist on a daily basis.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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