Your news story, ‘Bill for Manchester waste PFI scheme hits £4.7bn’, states that the ‘rise (in cost) was caused mainly by the increased cost of finance and greater transfer of risk to the contractor’ (April 17—23). Can some bright spark tell us where, in the council’s accounts, this cost of risk would have explicitly appeared had the project not been financed under the Private Finance Initiative?
David Cranston, Newcastle upon Tyne
