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Private Finance Initiative is a privately agreed finance deal made between the British Government and a private "investor" - in the NHS case property developers or global outsourcing companies

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1. What is PFI?

Because successive governments could say they were improving public infrastructure without spending loads or borrowing huge amounts - instead letting PFI deals transfer the contract of loans and debt agreement directly to the hospitals and to us the public!

2. Why PFI?

3. How did they manage to do that?

4. What can we do about PFI?

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These links provide more information and insights into the issues surrounding PFI.  If you discover more information please contact us.

Read more like this

PFI WIKIPEDIA PFI fire pfi 4 site

A short film introduction to PFI

thanks to Stella Feehily & Out of Joint Theatre Co.

Somehow 1990's onwards we  got hoodwinked into believing that the Private Sector was good for us and for our public services. In hindsight now we can see it was a terrible decision to let these repayment contracts be agreed.  

Buying hospitals, schools and public service building through contracts of massive interest rates has been likened to buying a house on a very expensive credit card. But get this - even after paying off the debt the hospital  DOES NOT belong to the public.

PFI deals are RENTAL deals!

The Treasury Committee report of 2011 stated:

 

“The costs of PFI projects are significantly more expensive to fund over the life of a project…  We have not seen clear evidence of savings and benefits in other areas of PFI projects which are sufficient to offset this significantly higher cost of finance... For example we heard that design innovation was worse [and] building quality was of a lower standard in PFI buildings. PFI is also inherently inflexible, especially for NHS projects."

There is much debate as to how best to deal with PFI.

We are currently working with informed teams of people to decipher the correct solution.

 

What we do know is:

 

PFI was never a good deal for the public

 

PFI deals have crippled hospitals and have aided the culture of cuts and privatisation.

 

We are currently working with informed teams of people to decipher the correct solution.  

 

We are also supporting the NHS BILL 2015 which receives its 2nd Reading in March 2016. This is the only Bill that opposes PFI in a way that can defeat it.

NHS BILL 2015

Wikipedia with links to other sites

DROP THE DEBT

Good history of PFI from DropthePFIDebt campaign

Financial Times

Surprisingly good resource from Financial Times

More links coming soon

People vs. PFI

Since the play "This May Hurt A Bit" Was written in 2014 the actual figures regarding the monstrous PFI deals have increased.

 

We will be presenting new figures as soon as possible.

 

Thanks

BARTS vs PFI

Find out how just ONE hospital is being destroyed by PFI - and how people are fighting back