Inverclyde's MSP has demanded an apology from Labour

The SNP's Stuart McMillan says he is 'shocked' that £10m of the schools budget will be spent on paying off private finance initiative debts this year.

Research by the Scottish Parliament’s Information Centre (SPICE) shows that the repayments account for 12 per cent of Inverclyde's schools budget.

Mr McMillan said: “It’s been over a decade since Labour were in power at Holyrood yet Scotland is still paying off their debts – and sadly it’s our schools that are suffering.

“The SNP Scottish Government is working hard to boost attainment in schools, improve school buildings and facilities – all of which is made harder when public funds are recuperated to cover old PFI costs.

“Money that councils could use to pay for teachers, textbooks, equipment and facilities is being used by councils forced to pay for Labour’s mistakes.

“It’s time Labour apologised for how detrimental their PFI policy was then, with the effects still being felt today."

The SPICE research says Scotland’s schools are losing out on an estimated £432.8m due to servicing the debts.

Mr McMillan said: “The public purse is still paying heavily for Labour’s costly decade-old errors, and the reality is we are going to be saddled with this bill for years to come.”