In September last year, the BBC’s Panorama reported that more than 169 schools had fallen victim to the large-scale equipment leasing scandal, with some schools signing deals that left them paying as much as 10 times the value of the leased computers and photocopiers.
At the time of the Panorama report, Stephen Sklaroff from the Finance and Leasing Association, speaking on behalf of the industry, stressed that it was up to the schools – not the financing companies – to make sure they were not signing bad deals.
However, current Department for Education regulations on leasing, limit schools to operating leases rather than finance leases, meaning schools’ hands are tied.
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