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    Yes, this has been discussed before.

    It was originally conceived and used by the Major government for small scale capital projects.

    When in opposition, at a private dinner party, it was revealed by a shadow Labour Treasury Minister, Geoffrey Robinson, that Labour planned to use PFI's as a way to get around their spending pledge by turning revenue spending into off-balance sheet capital spending. Some of his guests were horrified by the potential consequences of this and quite rightly so.

    Now we are paying the price. It is that warping and abuse of the concept by Labour that is the big problem here.

    Osborne - if he is carrying on with Labour's way of using the PFI, would be wrong and would deserve censure. But if it is used as originally conceived bt the Major government while trying to get the government out from the schemes set up by Labour then fair enough.

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