Source:The Business

By Allister Heath

Brown's hidden PFI liabilities soar by 11% - The Chancellor may have been using PFI to hide debts

Chancellor Gordon Brown's hidden liabilities under the private finance initiative (PFI) have soared by 11% in just nine months to a record 158bn pounds (E235.4bn, $311.2), according to information buried in an annex of the pre-Budget Report.

The total cost to the taxpayer of the PFI is up by 15.6bn pounds since March, the official figures also show. The revelation will intensify fears that Brown is using the PFI as a costly device to hide his debt off the government's balance-sheet and to buttress his now-tarnished reputation for prudence.

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Posted by pichu at December 13, 2006 9:36 PM