I don’t know. I have looked at the various websites and other internet resources which describe the Scottish Futures Trust, and am none the wiser.
So I still don’t know what repayment conditions apply to the money Shetland Islands Council can “get” to build the new high school.
I am, however, astonished that not one member of the entire compliment has been interested enough to ask. There have, over the years, been fulminations from all aerts about the evils of PPPs and PFIs; both also mechanisms through which local authorities could get things they could not really afford. Is it that they were evil Westminster lending mechanisms, and this is a braw Scottish one?
Further, I am astonished that not one single member of the body has asked one single official what the consequences of giving up Shetland Islands Council’s 20-odd year debt free status are.
When we used to talk about this, it was never pursued, because we were told that we would lose Scottish Executive support to the tune of our notional loan charges; some, as I recall £15 or £16 million per annum.
Were we misled, over all those years? Have things changed utterly? In any event, starting borrowing after over 20 years debt free should be worth, at least, talking about.
Gaets a Voe,