PFI now costs each UK household £13,000 a year, according to a report by the Intergenerational Foundation. PFI debt now stands at £239 billion, nearly 25% of the entire national deficit.
“We have consistently voiced concerns about the misuse of PFI in the past and we have already taken steps to reduce costs and improve transparency.” G Osborne – liar.
As part of our War on PFI campaign we are holding a meeting to expose and take action against the profiteering of Public funds under the the Private Finance Initiative. All welcome.
Under PFI, big business has screwed the public sector, spawning a legacy of odious, off-the-books debt. Our national deficit would be around 25% greater if it was included by the Treasury
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 tentacles of global private finance are slithering into one of the world’s most vulnerable communities and beginning to take a grip of its institutions.
Last week, a dispute about the PFI financing of London’s Crossrail project broke out between Transport for London (TfL) and Whitehall.
The financial vulnerability of UK hospitals was highlighted last week, although the cause of their symptoms was apparently up for debate.