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Schools PFI to be brought back into public sector control under Labour.

Schools PFI to be brought back into public sector control under Labour.

A future Labour government would bring "wasteful" PFI contracts back in the public sector, shadow chancellor John McDonnell has said.

He told Labour's conference the contracts were set to cost the taxpayer £200bn over coming decades and private companies were making "huge profits".

He said Labour, which has previously promised to strike no new deals, would bring PFI contracts "back in-house".

Labour sources later said this meant they would "review" all PFI contracts.

This means it is not clear whether all existing PFI contracts would be taken back - although shadow chief secretary to the Treasury Peter Dowd told the BBC's Daily Politics he expected the "bulk" to "come back in".

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