PFI - look and see who used it first. Initially launched in 1992 by Prime Minister John Major, PFI is part of the wider programme
One side effect is that it reduces public borrowing - some other entity does it.
Fair enough, but:
Two months after Tony Blair's Labour Party took office, the Health Secretary, Alan Milburn, announced that "when there is a limited amount of public-sector capital available, as there is, it's PFI or bust".[11] PFI expanded considerably in 1996 and then expanded much further under New Labour with the NHS (Private Finance) Act 1997,[13] resulting in criticism from many trade unions, elements of the New Labour Party, the Scottish National Party (SNP), and the Green Party,[14] as well as commentators such as George Monbiot. Proponents of the PFI include the World Bank, the IMF and the Confederation of British Industry.[15]