The public cost of buyouts, bailouts, terminations and major problem contracts is £27,902m, when combined with the additional cost of private finance, interest rate swaps and higher PFI transaction costs.
This sum could have built 1,520 new secondary schools for 1,975,000 pupils, 64% of 11-17 year old pupils in England (1,300 pupil schools, National School Delivery Cost Benchmarking, 2015 and Department of Education and National Statistics, National Tables, 2016).