Link to this page: http://www.socialistparty.org.uk/issue/970/26406
The Socialist 8 November 2017 |
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PFI privateers dodge tax
Privatisers are vultures, photo Anita Ritenour (Creative Commons) (Click to enlarge)
Top privatisation companies don't even pay taxes on the profits they leech out of public services.
Five offshore 'PFI' firms spent five years paying almost no corporation tax - on profits of nearly £2 billion. On top of this, nine offshore companies now own 45% of total PFI and 'PPP' privatisation project value.
The shock figures on Britain's 735 major sell-off schemes come from the European Services Strategy Unit think-tank.
Selling state services for bosses' bottom lines is bad enough. Now the vultures won't even let us claw a bit back through taxation.
Scrap all PFI and PPP contracts. Take the lot back into public ownership. Don't pay a penny to predator profiteers. Use their resources to help fund quality services and decent wages.