Wonder what the excuse will be at the next election?

PFI, private finance initiatives, supposedly the New Labour way of getting stuff done on the cheap with low payments over a length of time until they were payed off. My parents used to call it "doing it on the never, never."
Naturally it has come back to bite us, like most Labour schemes, at around about £15,000 per taxpayer, approximately 5 times what was said at the time.

Express.

EVERY working family in Britain faces an average total tax bill of nearly £15,000 for Labour’s botched public-sector investment schemes, an MP claimed last night.

New analysis of hundreds of Private Finance Initiative deals set up under the last Government showed repayments are likely to total five times more than previously thought.

The miscalculation arose because Labour ministers failed to assess the long-term costs of the privately-funded schemes.

Senior Tories now fear the ballooning expense of PFI deals may be the most damaging legacy of Gordon Brown’s years at the Treasury and in Downing Street.

Tory backbencher Jesse Norman, who wants PFI providers to give back some of their profits from public sector deals, analysed the expected total costs of the 544 PFI deals agreed under Labour.

He estimates the average repayment cost for every working family will reach £14,800. Labour estimated it would be just £3,100.

Mr Norman, MP for Hereford, said: “Under Gordon Brown, Labour went on a spending splurge with borrowed money which taxpayers’ will eventually have to pay back many times over.

“As a senior Treasury adviser working for Gordon Brown, Ed Miliband bears responsibility for a borrowing trick that will mean future generations saddled with billions in debt.” Private Finance Initiative deals were used by the last Government to secure money for dozens of schools, hospitals and other public sector buildings.

Oh utter joy, not only are we saddled with higher costs and rising prices, it seems there will be no future respite either. Anyone hoping that the Tories might get around to some sort of tax break will be whistling into the wind, any savings they make will have to be ploughed back into paying off Labours largesse for the next 25 to 30 years. Not that the Tories seem to be that interested in cutting back the state, slowing it down a little yes, but actually cutting it back? Well, not that I or any others can see.
To add insult to injury for the taxpayers...

Many PFI deals also oblige the public-sector managers of the buildings to use cleaning or maintenance services from PFI providers, often at a much higher cost.

Labour, wrecking the UK economy from its very beginnings proving once again socialists have no grasp of economics and seem to believe money grows on trees and will never run out.