Residents will pay almost £1billion into the hands of big business and banks as a result of expensive contracts agreed by Islington Council.
Treasury figures obtained by the Gazette show £358million was borrowed from Private Finance Initiative (PFI) schemes, which will rocket to £1.3 billion – almost four times the initial outlay – by the time it is paid off in 2037.
This means £943million extra will be paid by Islington taxpayers, though this figure does include maintenance on the projects for the length of the contracts. more
LEASEHOLDER NITTY GRITTY – What do you do about it?
Twice now, my leaseholder neighbour living upstairs has sent water through my ceiling to drip on my furniture and carpets. First their faulty toilet, then their washing machine overflowed. Actually, the leaseholders were different because the upstairs property changed hands between the two events. More..