Seven NHS trusts are on the brink of bankruptcy due to their “sky-high” PFI commitments. The Department of Health has been forced to set up a bailout fund of £1.5 billion to ensure their survival.
In the UK, InnisFree is the largest private investor in healthcare, it owns 269 schools and £3 billion worth of MoD accommodation. It also has a Scottish Motorway, a Welsh Jail and part of Whitehall in its portfolio.
The financial vulnerability of UK hospitals was highlighted last week, although the cause of their symptoms was apparently up for debate.
We thought you should listen to the File on Four Radio broadcast from the BBC on PFI. It’s a pretty damning piece of journalism by Jerry Northam.
HSBC and other investment funds are taking control of UK schools, hospitals, social housing and other vital pieces of public infrastructure via the Private Finance Initiative (PFI).