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One of Britain’s biggest unions has backed a “windfall tax” on firms profiting from PFI.

UNISON joined Labour MP Stella Creasy’s bid for a levy on the companies, which are predicted to rake in £200billion of public funds over three decades.

The Private Finance Initiative, used by both Labour and Tory governments, let corporations build schools, hospitals and prisons - but left the state with eye-watering repayments.

Ms Creasy wants to pave the way for a tax on the firms’ profits using a vote in Parliament next Wednesday.

Her amendment to the Finance Bill, backed by Labour, Lib Dem and Plaid Cymru MPs, would force Chancellor Philip Hammond to review extending the existing “bank levy” to PFI operators.

Backing the idea, UNISON general secretary Dave Prentis said: “Local communities may now have shiny new schools and hospitals, but at huge cost.

(Image: Adam Gerrard/Daily Mirror)

“Repayments are so steep that teaching assistants are losing their jobs and patient services are being cut back.

“Meanwhile the shadowy PFI firms just keep on hitting the jackpot.”

Backbencher Ms Creasy’s idea risks a clash with Labour’s Shadow Chancellor John McDonnell, as he has not confirmed if he will back it.

Mr McDonnell already has a separate policy to take control of PFI deals entirely - by nationalising the “special purpose vehicles” that oversee them.

Critics of a windfall tax say it would leave PFIs in private hands, prolonging the problem.

But Walthamstow MP Ms Creasy said her plan would make a difference now, while the Tories are in power.

(Image: Newcastle Chronicle)

She said: “Government cuts to funding have already stripped our public services to the bone, and these vultures are picking over what is left.

“Unison’s support highlights the importance of acting as soon as possible to tackle these problems before we lose any more teaching assistants, nurses or council staff to pay off these multi billion pound companies.

“Cancelling the contracts costs as much as it saves, but we can be creative with our tax system to make them realise we mean business.”

Mr Prentis added: “There’s no time to lose.

“It’s time for a windfall tax on the companies raking in the money, which could bring some much-needed relief for the services we all rely on.”