01/10/07 - Labour MP Muddles Facts On School Funding

 
Swindon Advertiser Letters Page
 
As a Governor of 5 years standing at Isambard Community School, I was perplexed by the claim made by Michael Wills in the recent article in your paper that he had secured the finances to build the school.
 
This school and the 6 other new schools in the Northern Sector were built under the Private Finance Initiative (PFI) not using Government money. Effectively, the Council has borrowed the money from the private sector to build and run the schools and is having to pay back the costs over 25 years in much the same way a home owner would take out and repay a mortgage. This is tantamount to a mortgage broker claiming credit for buying your house, even though you are the one who paid for it!
 
From what I have seen, it is the Council, developers and Governors who have done all the work to make these new schools a reality. Perhaps, in future, he could get some real Government money for Swindon and not a loan from someone else's pocket?
 
Cllr David Renard
Haydon Wick Ward
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