Minister resists PFI for schools

Guernsey's Education Minister Martin Ozanne is taking a firm stance against suggestions to use private funding for school developments.

The States is considering whether to spend £34m to refurbish the Princess Elizabeth Hospital but that would mean a freeze on school spending.

Treasury and Resources Minister Lyndon Trott has suggested private finance initiatives (PFI) for funding.

But Mr Ozanne says their UK track record means he is against them.

He said: "The PFI route was thought at one point to be a gift from heaven, but it has not worked at all well in the UK.

"It's under scrutiny in the UK and generally thought to be a mistake.

"Any developer or investor will require a swift return on the capital they've invested and that's always going to be a problem."