An ambitious £50 million private investment scheme for schools will lead to the privatisation of Haringey's education system, it is feared.

Opposition group Haringey Against Privatisation has hit out at the council's Private Finance Initiative (PFI) bid.

The scheme allows local authorities to seek investment from private firms to spend on education.

Haringey Council has told critics it is the only way to get much needed funding for the borough's schools.

And it insisted teachers and governors would keep overall control of their schools and decision making.

In a statement HAP said this week: "We do not believe private companies should make a profit out of any public services, whether it be a hospital or a school.

"The council said there is no alternative, there are no resources to build a new school and PFI will mean a better education service in the long run

"But the privatisation of public transport has not produced a better service -- just bigger profits for shareholders and salaries for senior executives.

"This too could be the fate awaiting Haringey schools."

Haringey Council was last month given government approval to press on with its PFI project.

It wants to use the cash to buy the College of North East London's Rhodes Avenue campus in Muswell Hill to create a new secondary school.

There would also be funding to carry out repairs at other secondary schools throughout the borough.

The money would be paid back in instalments over 30 years with private firms contracted to manage the school buildings during that period.

But HAP, which is backed by public sector trade union UNISON, fears job losses and cuts in pay and conditions for staff.

It believes public money will be used for private profit and standards will drop with control taken away from school governors.

There are also concerns that school sites and buildings could be rented out for other uses such as conferences or weekend car parking.

"This may only be the start of creeping privatisation that will end in teaching itself being privatised, "the statement added.

"Nor do we have any faith in the council's ability to manage long-term financial projects -- just look at the Ally Pally farce."

HAP and UNISON, which does not represent teaching staff, organised a protest outside the Civic Centre before Monday's full council meeting.

They are hoping to have Will Hutton, editor-in-chief of the Observer newspaper, as guest speaker at a meeting on Tuesday November 3.

Mr Hutton lives in Muswell Hill and his children attend local schools. He recently spoke out against PFI at a UNISON fringe meeting at the Labour Party Conference.

Author and journalist Paul Foot has been confirmed as a speaker at the meeting in the West Indian Cultural centre, Clarendon Road, Hornsey at 7.30pm.

A Haringey council spokeswoman said: ``The contract is for accommodation only. It includes cleaning, lighting, heating and maintenance of buildings and grounds of all schools in the contract.

``It has nothing to do with teaching, curriculums, class sizes or anything else concerned with the running of the schools.

``It is preposterous to suggest teaching will be privatised. While it is true maintenance and cleaning staff will become employees of the private company, the council will do everything legally possible to safeguard their terms and conditions.

``We might prefer the government to give us money in a different way, but this is what it has chosen.

``We would be letting down Haringey's children i

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