DONATE facebook-icon-copy twitterICON

999 Call for the NHS

A grassroots NHS campaign. Not affiliated to any of the political parties.

999logofinal_Pill_straight_360 999 Blog

Drop the NHS Debt - (PFI) is Draining the NHS of Resources

By 999 Call for the NHS, Dec 5 2014 07:14PM

Royal London Hospital, Barts Health NHS Trust
Royal London Hospital, Barts Health NHS Trust

The NHS is being held hostage by private financiers as a result of signing up to massive debts through the Private Finance Initiative (PFI). Through PFIs, many NHS hospitals have entered into long-term agreements with investment companies to finance the building and maintenance of hospitals. These hospitals are then leased back to the NHS Trusts at excessive repayment rates.



PFIs are being used for a range of public sector projects but the Department of Health has agreed the largest number – currently 118 with a capital value of £11.6bn. Over time, the sum total of repayments will be £79.1bn. According to one calculation, two hospitals could have been built for the cost of just one, had public sources of finance been used.



The largest NHS PFI project is the building of the new Royal London Hospital at the initial cost of £1.1bn, which is estimated to cost over the time repayment period of 43 years £7.4bn. In the case of Royal London Hospital it could have been as little as £4.1 billion over the same payment period.


The use of PFI for the building and maintenance of healthcare facilities involves excessive interest rates and inflated service charges. It is crippling the NHS and leading to cuts in services, loss of staff and the selling off of assets. Funds are sucked from hospital budgets and into the pockets of City investors, many of whom are registered in tax havens. PFI has become a major lever in the process of privatisation of the NHS.


In October 2013 a group of health campaigners formed Drop the NHS Debt to start a campaign on the scandal of PFI (Private Finance Initiative) contracts in the health service. We have put together a website directed specifically at health campaigners across the country providing lay summaries of the way PFI works, possible ways of reversing PFI, and a ‘toolkit’ enabling ordinary campaigners to find out the extent and nature of profiteering through PFI contracts at their local hospital. In turn this information would form the basis of local campaigns against PFIs and we suggest a possible leaflet for campaigners to use.


Our website is still developing but we feel there is enough there to launch it. Please go to:

www.dropnhsdebt.org.uk


We would welcome any support and feedback you can give and we hope you feel able to reference our website from yours. Please do also announce the website to your contacts and local group via your website or email.


If you have any queries please contact the website directly at info@dropnhsdebt.org.uk

Add a comment
* Required

999 Bloggers

We need your help!

We are all volunteers and there is no polite way to say it. We always need some money to help make 999 a effective success.

 

Please think about donating.

No matter how big or small the amount every penny will go towards the Campaign

FIND OUT MORE

REMEMBER

We are not aligned

to any political party.

 

We never have been.

We know it's going to take political legislation to bring back the NHS into public hands but we remain independent of all the parties in order to lobby and pressure all the parties. We are about people and the NHS they should be able to keep.

 

So to all MPs and politicians -   If the policy fits, we'll support it.  

CONTACT US

ADD YOUR VOICE

 

If you have an article to share, a blog item you feel we could use please do get in touch.

 

This space was always intended as a grassroots venue for campaigners to raise their voices.

 

Contact Steve for more details.

RSS Feed