More Labour lunacy, let's take back the PFI contracts.

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  • Must be the sea air at conference , Labour on top of all its other pledges is now going to end the PFI contracts according to Mr Mcdonnell, how much will this cost us , the taxpayer?, all the more galling as Labour were behind PFI .How much longer will this Labour lunacy contine?

  • Thanks for the thread, Nigel, was considering making one on this subject myself.


    I think there is a debate to be had here with PFI contracts, as the the cost to the taxpayer will be many times that than if they had remained under State control.


    My local hospital was built using PFI, and the companies involved, one of them being Sodexo, will make something like 30 times the cost of actually building the hospital. No wonder so many companies lined up for Blair's revolution.


    You rightly say it was Labour that brought PFI into existence, but that was "new" labour, this is almost like a different party with the 1970s version of Labour back at the helm.


    As a matter of principle, I don't think the State should be running anything. Government can't even run itself properly, but what would Labour's figures be to the cost to the taxpayer if all PFI contracts were brought back into state control? Beyond cost, what other benefits, assuming there are any, for this move?


    What will be next? The railways? BT?

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  • Lets hope we never find out.

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  • Well, here's a link to the BBC article above (where it says BBC news website wrote) on this story.


    Just seen a bit of McDonnell's speech, quote, "rail, water, energy: we're taking them back."


    If Labour made a argument that this would be more efficient, or cheaper, I'd be receptive, but no detail.


    Welcome to the 1970s!

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  • I hate to be pedantic gentlemen, but just to add a bit of fuel to the fire it was Major who bought in PFI actually.


    In 1992 PFI was implemented for the first time in the UK by the Conservative government of John Major. It immediately proved controversial, and was attacked by the Labour Party while in opposition.


    https://en.wikipedia.org/wiki/Private_finance_initiative

    It was attacked by the dreadful Harriet Harperson as being a privatisation issue , what a surprise , it was hardly used by the Conservatives. It was massively and whole heartedly supported and expanded by Labour under Blair and Brown , it was a way of using smoke and mirrors as it does'nt come up as debt on the books.To take these contracts back would cost you and me billions of pounds of very real debt.

  • To take these contracts back would cost you and me billions of pounds of very real debt.

    I entirely agree. I'd like to see the total bill for all of Labour's promises. We'll be bankrupt until the next century if they tried to keep them.

  • Good job we're in such a strong financial state to whether any storm Labour might bring....:rolleyes:

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  • I saw an estimate of £200b to buy out all those PFI contracts, add that to the £100b to cancel student loans and debts and then the countless £Billions to nationalise water, gas, electric, railways, blah, blah. They'll have to strip the magic money tree bare. Of course the country will go down the pan like Venezuela but what the hell, the Islington elite will never suffer the consequences.:rolleyes:

    History is much like an Endless Waltz. The three beats of war, peace and revolution continue on forever.

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