George Osborne is to announce a new generation of PFI schemes, but will introduce safeguards to ensure the taxpayer shares in any profits.... aye, I'll believe it when... no, fuck it, I won't believe it. ever. Fucking fuckster. FFFFFFFFFFFFUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU
The former Tory health secretary Stephen Dorrell carefully did not put the blame on his own party, which first introduced PFI in the 1990s, for the crisis facing the South London Healthcare NHS Trust, which is likely to be placed in a form of special measures after accumulating a deficit of £150m.
The initial £6.9bn PFI contracts signed by George Osborne in his first year in office, will go on to cost the UK taxpayer an accumulated £33bn by 2036.
The PFI was a Conservative initiative. Introduced in 1992 under John Major’s government, it is a form of project finance which aims ‘to increase the scope for private financing of capital projects.” This translates into the privatisation of publicly owned assets. Labour criticised the plan from the outset as a form of privatisation (and rightly so).
The great racket that was private finance now robs the taxpayer of billions that should be spent on nurses and teachers
The NHS in England faces a total bill of £65bn for new hospitals built under the private finance initiative (PFI), figures obtained by the BBC indicate.