Britain Crippled By £222Bn Debt From Backroom PFI Deals – Report – 13 April 2015

RT logoEach UK citizen has amassed a debt of £3,400 ($4,976) without even knowing about it. This is due to a UK government scheme that signed controversial deals with private companies to borrow money on behalf of the public and pledging to pay it back later.

READ MORE: ‘Super-rich, me? Absolutely not’: Tony Blair says just lucky, despite lucrative business, property empire

The deals, which are known as Private Finance Initiatives (PFIs), were used by London to pay for public infrastructure, such as schools and hospitals. Signed with private enterprises, they would allow the government to “buy now, pay later,” the Independent on Sunday reports.

Read the full story at: / link to original article


Comments are closed.