Oldham Council PFI contract repayments over the next 25 years will incur interest charges totaling 125.6% of the collective loan repayments for the same period.

Oldham Council’s repayment schedule for PFI and similar contracts over the next 25 years will incur interest charges totaling 125.6% of the collective loan repayments for the same period. When operators services charges are added into the costing these PFI contracts will cost over a billion pounds in payments over the next twenty five years. Oldham Labour Council is still increasing PFI debt year on year with schemes funded by creating huge public sector debts and what we consider to be inappropriate use of Council budget resources whilst it’s property portfolio is in decline depreciating in value by 10% in the last year.