Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/635/10104

From The Socialist newspaper, 18 August 2010

Private Finance Initiative: A licence to print money

THE COST of financing Private Finance Initiative (PFI) schemes in the National Health Service has risen to a staggering 65.1 billion pounds.

PFI schemes account for all new hospital buildings and refurbishment programmes as well as providing many services in the NHS.

PFI schemes amount to a licence to print money for the private consortiums awarded the contracts. They are the equivalent of someone buying a house using a high-interest credit card instead of a low fixed interest mortgage. It means that billions of pounds in repayments each year, spread over 30 or more years, are drained from health budgets to finance the profits of big business companies.

Consequently many health trusts' finances are deep in debt and trusts are obliged to make cuts in the services they provide, including the closure of A&E and maternity departments. The move to establish more semi-privatised 'foundation hospitals' will inevitably mean even more cuts.

Healthworker condemns rip-off PFI schemes

"PFI schemes are a gigantic rip-off. Mid Yorkshire Hospital Trust is paying 40 million a year over 35 years for two hospitals which actually cost 320 million!

These PFI hospitals will have 60 fewer beds and potentially 200 fewer jobs. Another 150 workers are having their wages cut through 'down banding' [ie regrading their jobs downwards].

The money handed over to fund this PFI scheme is index-linked to inflation for the duration of the contract. This is at the same time as our pay is being frozen.

These PFI contracts should be cancelled and all of the health service renationalised."

Adrian O'Malley, Unison branch chair, Mid-Yorkshire Health (personal capacity)

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 18 August 2010:

Action now to defeat cuts!


International socialist news

Pakistan: Workers' solidarity urgently needed

Floods in Pakistan bring devastation - poor suffer most


Socialist Party youth and students

Youth must fight for a future!

Student demo should be start of the fightback

No to advice service cuts

Decent pay for interns

Uni bosses say cuts will cause closures


Socialist Party editorial

Forecasts of fragile economic growth


Socialist Party news and analysis

Cameron sticks the boot into our council housing

Private-profit company granted 'snoopers' charter'

Private Finance Initiative: A licence to print money


Socialist Party campaigns

Coventry Against the Cuts challenge councillors' 'legal obligation'

Northern Ireland: Belfast Stop the Cuts Alliance established

Bromley care workers fight privatisation and job cuts

Defend Our Community Services launched in Bracknell

Cuts devastate mental health services


Socialist Party Marxist analysis

The legacy of Leon Trotsky


Socialist Party workplace news

Kirklees Unison strike ballot launched

CWU members accept BT pay deal

Debate how to fight back at Socialism 2010

Tube staff vote for action against cuts

Jobs under threat at Ministry of Justice

Airport workers win improved offer from BAA

Workplace news in brief


Socialist Party events

Socialist Party summer camp - book now!


International socialist news and analysis

Russia's raging wildfires - a crisis of government policies


Socialist Party news and comment

Bradford must organise against the EDL

Birmingham: Community says 'No' to racist spy cameras


 

Home   |   The Socialist 18 August 2010   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

PFI:

triangleNHS meltdown - fight the Tory cuts

triangleTories wreck our NHS

trianglePlans to bring A-levels back to Knowsley abandoned

triangle40% of GPs plan to quit - reverse all NHS cuts and sell-offs!

triangleCarlisle NHS privateers leave patients at risk

Health:

triangleOne in four teenage girls depressed - crisis made worse by cuts

triangleStrike to save our NHS!

triangleTragic death highlights Chatsworth ward closure risk

triangleDeal concludes Barts health strike - "We have raised our heads high"

Hospitals:

triangleChatsworth ward campaign replies to Tory MP's intervention

triangleBarts strike - 'Up the ante' if necessary

triangleDetermined protest against Chatsworth Ward closure

Cuts:

triangleSalford Unison condemns pay cuts

triangleWorkplace news in brief

Reports and campaigns

Reports and campaigns

12/10/17

Cleaners

Justice for Tube cleaners demo

11/10/17

Salford

Salford Unison condemns pay cuts

11/10/17

Royal Mail

CWU fights court attempt to stop national strike

11/10/17

Carlisle

Carlisle NHS campaigners hand in petition to MP

11/10/17

Green

Don't wreck our rec! Campaigning to save green space in Standish

11/10/17

Fire

No more fire deaths - ensure safety now!

11/10/17

Cardiff

Cardiff Socialist Students confront 'Parasite' Jacob Rees-Mogg

11/10/17

John McDonnell

Manchester rally discussed unionisation and nationalisation

11/10/17

Orgreave

Join the Orgreave Halloween rally

11/10/17

Union

Workplace news in brief

11/10/17

Democratic rights

Who's watching who?: The fight for justice, trade union and democratic rights

6/10/17

Northern Ireland

Boeing bust-up threatens thousands of skilled jobs

5/10/17

Runcorn

Too much to cross the Mersey

4/10/17

Royal Mail

Set for national strike action

4/10/17

London

Supporting the general strike in Catalonia

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party

triangle13 Oct The end of the Tories?

triangle11 Oct Nasty party imploding...drive out the Tories

triangle11 Oct CWU fights court attempt to stop national strike

triangle11 Oct The fight against racial discrimination is tied to fighting against...

triangle11 Oct Catalonia: Workers can finish what Puigdemont won't

triangle6 Oct Boeing bust-up threatens thousands of skilled jobs

triangle4 Oct The nasty party turns on itself... but the Tories must be driven out

More ...

triangle17 Oct London: TUC lobby & rally; and London march

triangle18 Oct Warrington & St Helens Socialist Party: 1917-2017; the October Russian Revolution

triangle18 Oct Hackney Socialist Party: 100 years ago - the Bolshevik-led revolution

triangle18 Oct Tower Hamlets Socialist Party: Capitalism in Crisis - is Corbyn the answer?

More ...

Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Archive

Archives:

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

Legal

SP RSS feed RSS

Platform setting: = No platform choice

V2