It is always tempting fate to start with the words "few subjects attract more hypocrisy in Scottish politics" but I will take a risk and apply them to the topic of private finance being used to fund public infrastructure.

For the past 30-odd years, much of what has been built in Scotland under all shades of government has used up-front private finance which subsequently has to be paid for.

Tory PFI, Labour PPP, SNP Scottish Futures Trust... they are all variations of the same principle.

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In an ideal world, this might not be necessary but it is a long time since we lived in an ideal world.

With capital budgets of public bodies, particularly councils, squeezed till the pips squeak, "innovative" financing will continue to be deployed, however heavily disguised.

My direct interest arose in 1997 as Scottish education minister, prior to devolution.

Hundreds of schools were in a state of dilapidation after years of Tory under-funding.

There were two options – tell councils to form an orderly queue and wait their turn or take a short-cut to transforming conditions in which teachers taught and pupils learned.

We opted for the latter.

Falkirk led the way with a PPP scheme to replace five secondary schools which I signed off with enthusiasm.

The first, Graeme High, was opened by Donald Dewar two months before his death in 2000.

In his speech, he encouraged others to go down the same route.

The state of Glasgow schools was particularly dire and they put together a visionary Public Private Partnership which rebuilt or refurbished every one of the........

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