What is the primary concern regarding PFI school contracts in Stoke-on-Trent?

The primary concern is unfinished work and the lasting impact on schools, despite significant profits made by investors like Innisfree.

How much profit did Innisfree allegedly make from PFI deals?

Companies linked to Innisfree's founder may have received at least £130 million in dividends from various PFI infrastructure projects.

Did Innisfree offer to reinvest funds into the Stoke-on-Trent PFI company?

No, Innisfree declined to put money back into the PFI company, TSSL, stating that the matters are subject to commercial contracts.

Home / Business and Economy / PFI Schools: Millions in Dividends, Crumbling Legacy?

PFI Schools: Millions in Dividends, Crumbling Legacy?

9 Jan

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Summary

Innisfree's PFI deals have yielded at least £130m in dividends.
Concerns raised over unfinished work and contract quality in Stoke.
Innisfree declined to reinvest funds into the struggling PFI company.

PFI Schools: Millions in Dividends, Crumbling Legacy?

Questions are being raised about the legacy of PFI school contracts, with specific concerns highlighted in Stoke-on-Trent. Academy chief executives have shared evidence of unfinished work and the long-term impact on schools. The financial aspects are complex due to intricate company structures, but analysis suggests Innisfree, a major UK infrastructure investor with significant PFI projects, and its associated entities have profited substantially.

Innisfree founder David Metter, a vocal proponent of PFI's value, and his family's companies appear to have gained at least £130 million in dividends from various PFI investments. However, the exact portion derived from the Stoke-on-Trent contract remains unclear. When approached, Innisfree declined to reinvest funds back into the PFI company, TSSL, citing commercial contract terms.