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Author Archives: Stella Creasy

WHAT IS PFI? Since 1992 and to the present day the Private Finance Initiative (“PFI”) has been used to finance and operate public sector projects. Under PFI, the Government takes out a loan through a private company (a “PFI Company”) who then build and manage a project. The PFI Company then charges the public sector a repayment fee each year for the loan and any services they provide. There are now 700 PFI projects around the UK including for schools, hospitals, prisons and motorways. There is now a compelling body of evidence that the costs of these deals outweigh the […]
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 How We Can End the PFI Rip Off Next time you have an appointment cancelled at hospital, or a headteacher tells you their school will be losing staff because of budget cuts, ask how much PFI debt they have – the answer may surprise you. My hospital trust, in north-east London, spends nearly £150m a year repaying its PFI debt – nearly half of which is on interest payments. If Theresa May is serious about taking on the unacceptable face of capitalism, she could save Britain a fortune if she goes after the legal loan sharks of the public sector. […]
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