ethical-capitalism : Message: PFI: Invest Ł100 and make Ł89m profit from the taxpayer

The following four articles appear in today's Sunday Herald (http://www.sundayherald.com/news/heraldnews/index.php). These companies and shareholders receive huge profits due to the risk they take - the only real risk is that a socialist government may cancel the contracts and confiscate their assets!

The scandal of PFI: invest just Ł100 ... and make Ł89m profit from the taxpayer

By Rob Edwards

34 comments

The great PFI swindle

Allowing private companies to build and run schools and hospitals for profit has been controversial from the start. Now, though, the true cost of the Private Finance Initiative and the scandalous profits being made by businesses is finally revealed. As investigated by Rob Edwards

47 comments

An off-balance sheet scam to write off

ANALYSIS: PFI allowed public borrowing to remain hidden. No longer. By Iain Macwhirter

18 comments

Evidence that undermines company claims of high risk in investment

12 comments

Unfortunately, the figures in a table on the newspaper aren't on the Sunday Herald website, but I've found them at http://www.robedwards.com/2008/05/pfi-the-50-bill.html:

THE MONEY MADE FROM PFI SCHEMES

scheme / capital invested by companies / projected cash return

New Royal Infirmary, Edinburgh / Ł20m / Ł228m
County Hospital, Hereford / Ł9m / Ł92m
Hairmyres Hospital, East Kilbride / Ł8m / Ł145m
Council offices and car park, Perth / Ł2m / Ł31m
Eleven schools, Highland / Ł2m / Ł12m
James Watt College, Kilwinning / 0.7m / Ł9m
TOTAL / Ł42m / Ł517m

scheme / equity invested by shareholders / projected dividend

New Royal Infirmary, Edinburgh / Ł500,000 / Ł168m
County Hospital, Hereford / Ł1,000 / Ł56m
Hairmyres Hospital, East Kilbride / Ł100 / Ł89m
Council offices and car park, Perth / Ł136,000 / Ł24m
Eleven schools, Highland / Ł197 / Ł6m
James Watt College, Kilwinning / Ł80,000 / Ł7m
TOTAL / Ł717,297 / Ł350m

--
Steve Wallis (Glasgow, Scotland)
For important/urgent communications, please email:
warcrysteve@...

Blogs: http://groups.yahoo.com/group/steve-wallis-socialist-blog,
http://blog.myspace.com/galaxiasteve

My socialist website: http://www.socialiststeve.me.uk
My socialist musical poetry: http://www.socialiststeve.me.uk/poetry.htm
(and at my MySpace and Multiply pages)
My pages at MySpace: http://www.myspace.com/galaxiasteve, Facebook:
http://www.facebook.com/profile.php?id=731729407 and Multiply:
http://socialiststeve.multiply.com

Founder, Good Intentions Network: http://www.goodintentionsnetwork.org
Founder, Ethical Capitalism Network: http://www.ethicalcapitalism.net
Founder, Foundation for PR-based Socialism: http://www.PRsocialism.org
Founder, Revolutionary Platform Network: http://www.revolutionaryplatform.net

My socialist band, Red Day: http://www.red-day.net
Author, "Revolution Destroyed? Have I ensured that a world socialist
revolution will never happen?": http://www.revolutiondestroyed.net

For discussion of the credit crunch, go to
http://www.revolutionaryplatform.net/forum/index.php?board=156

Yahoo! Groups Tips

Did you know...

Messages