Page 13 - link magazine

North Swindon Schools PFI Protect
What is PFI?
PFI is the goverument's preferred way
of funding major new public building
projects such as hospitals, schools,
prisons and roads.
How does it work?
Private consortiums such as Equion are
contracted to design, build, finance and
manage new projects. The contracts
typically last for 25 - 30 years.

How is it paid for?
The private consortium raises the cash
to build the project. It is then paid
back with interest by the government
and the Council through regular
payments over the period of the
contract. The amount paid depends on
the performance of the consortium, _ gyp
so if the building project is delayed, or
if it is badly managed the consortium
gets less money. Therefore, the risk of Ilreod Parkway School: Central Covered Courtyard
the project going wrong lies with the