View Single Post
Old 11th January 2017, 18:26   #99 (permalink)
tintagel
Senior Member
 
tintagel's Avatar
 

Thanks: 33,878
Thanked 9,429 Times in 3,603 Posts
tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute tintagel has a reputation beyond repute
Re: NHS & Social Care in Crisis!

It's not only our NHS & Social Services in Crisis! UK PLC is Haemorrhaging Billions into Private Investment conglomerates, who are charging us Shylock rates for Very Shoddy Services & Products!

The following article on PFI's was written in 2015 but explains rather well how & why PFI's are a Bad Business plan for our country, which will cost far more times more to repay than the initial costs & the costs we Could have got them for had UK Gov arranged the Funding!!!. I think it also helps to understand why our NHS (in particular) is now Worse Off! Other Publically funded services will (imho) soon follow suit as our Education system, Prisons, Social Services , Local Authority's, Probation Services etc, etc, continue to be contracted out & further PFI contracts signed for Infrastructure investments, that will cost us more & the Profits will end up in some off-shore accounts!

Sorry it's a rather wide coverage of services & sectors, but hopefully it brings the scale of the Problem/Crisis & goes a way to clarify the Root of the cause.

"A case in point is Britain’s biggest health trust, Barts Health NHS Trust in London, which was placed in special measures last month. It is £93m in debt – struggling under the weight of a 43-year PFI contract under which it will pay back more than £7bn on contracts valued at a fraction of that sum (£1.1bn).

PFI’s were the brainchild of the Conservative Party in the 1990s, but were swiftly embraced by New Labour. Successive governments signed hundreds of the deals. PFI-funded schools, streetlights, prisons, services, police stations and care homes can be found across Britain.

The system has yielded assets valued at £56.5bn. But Britain will pay more than five times that amount under the terms of the PFIs used to create them, and in some cases be left with nothing to show for it, because the PFI agreed to is effectively a leasing agreement. Some £88bn has already been spent, and even if the projected cost between now and 2049/50 does not change, the total PFI bill will be in excess of £310bn. This is more than four times the budget deficit used to justify austerity cuts to government budgets and local services."

Crippling PFI deals leave Britain £222bn in debt | The Independent

Wiki explains: TOPCO-CAPCO-OPCO; Heathrow is in turn owned by FGP Topco Limited: I can't guess where all the PFI for the Ludicrous expansion of Heathrow Airport will come from!!!...... but I'm sure that UK Tax-Payers will be made to pay for it.... for a very long time! - Ditto Hinckley Point & HS2!!!

"Our company, Heathrow Airport Holdings Limited (formerly BAA) owns and runs London Heathrow Airport, Britain's aviation hub.

Heathrow Airport Holdings Limited is in turn owned by FGP Topco Limited, a consortium owned and led by the infrastructure specialist Ferrovial S.A. (25.00%), Qatar Holding LLC (20.00%), Caisse de dépôt et placement du Québec (12.62%), the Government of Singapore Investment Corporation (11.20%), Alinda Capital Partners (11.18%), China Investment Corporation (10.00%) and Universities Superannuation Scheme (USS) (10.00%)"

Company information | Heathrow

https://en.wikipedia.org/wiki/Privat...nce_initiative

The only responsible way forward I can see is to pay off these 'Private Loans' to/for our Public Services & Products sooner than later! & get our finances back on track, with 'Profits' coming back into UK Coffers for the benefit of UK residents.
__________________

Last edited by tintagel; 11th January 2017 at 18:43..
tintagel is offline send PM Reply With Quote
The Following 2 Users Say Thank You to tintagel For This Useful Post:
Akasya (11th January 2017), pepperkat (11th January 2017)