"Building Schools for the future"collapses

Conservatives have today found that Greenwich Council’s PFI project to rebuild five secondary schools in the borough has hit massive financial problems. Labour has announced that they have to find an additional £4.7 million pounds a year for 25 years for the project to go ahead.  This has put it in jeopardy.

 “Building schools for the future” was announced by Labour over six months ago.  It would see new buildings for schools including Crown Woods, John Roan and Thomas Tallis.  The Director of Finance said the Greenwich programme “was not affordable” (Education and life long scrutiny July 2004) Now it has got a lot worse.

Conservative Parliamentary Spokesman for Eltham and Eltham councillor Spencer Drury says “Once again the Labour party is all talk and no action. It is disappointing for parent’s teachers and students to find that the promised new school buildings are unlikely to materialise. 

“As a teacher I have doubts over the use of PFI to build schools. The audit commission has stated it does not offer value for money. I think a case by case approach is better and if the Government borrowed the money directly, it would be more transparent and cheaper.”