According to the Daily Telegraph, Labour’s Legacy which heavily used Private Finance Initiative (PFI) schemes to fund major schemes, shows that the taxpayer is being left with a lasting legacy of debt.
Between 1997 and 2010 more than 100 hospitals were built, but Labour Ministers only paid £5 billion of the £65 billion – the remaining £60 must be repaid – a gigantic debt for the taxpayer lasting more than 30 years.
The highest profile case concerns Barts and the London NHS Trust project, signed by ministers 2006, which provided two new hospitals in the capital.
By the time the coalition took office four years later nothing at all had been repaid – leaving an outstanding bill of £5.3 billion.
Jesse Norman, the Conservative MP, accused Labour of “extraordinary hypocrisy”. Their PFI bill for hospitals will cost every working family in Britain £3,600, according to Mr Norman’s figures.
PFI schemes were started by the last Conservative government under John Major in the early 1990s. However, they mushroomed under Labour with Gordon Brown, as Chancellor, using them as a way of meeting his own public borrowing rules.
According to official figures, the NHS currently pays back £1.25 billion each year – but this figure will increase until 2030 when it is expected to hit £2.3 billion.
The Barts and the London NHS Trust project, to develop Barts into a “centre of excellence” for cancer and cardiac treatment and to build a new hospital at The Royal London , was started in 2006 – but payments will not even commence until 2013-14 and will not be finished until 2048.
Mr Norman, a member of the Treasury select committee, said: “This shows extraordinary hypocrisy. The last Government claimed to be investing in public services.
“In fact their true investment was less than less than one tenth of what they claimed. Labour didn’t manage to pay for even one new PFI hospital on their watch.
“Labour maxed out the nation’s credit card with a £60 billion bill for new hospitals, loading future generations with staggering debt repayments.
“After bringing the country to the brink of bankruptcy, they now have no credible plan to clear up the mess they left us with.
“Their approach – to spend less without making any reforms at all – would leave the NHS in crisis.”

