The sickening PFI profiteerers leeching funds out of the public sector

Dave Prentis is the General Secretary of UNISON, Britain’s biggest public sector trade union with more than 1.3 million members

Tax-haven Private Finance Initiative (PFI) profiteering has hit a new low. It is a disgrace that private companies such as HSBC are hoarding massive PFI profits, milked from cash-strapped schools and hospitals, in tax havens.

In just six months a company set up by HSBC, called HICL, has made £38 million in profits from 33 PFI schemes. Not only is the company ripping off the taxpayer by leeching funds out of the public sector, it’s not paying its fair share of tax either. Its Guernsey, tax haven status, means that it’s paid just £100,000 in tax – less than 1%.

Meanwhile, in a Portsmouth PFI hospital, owned by HICL, 700 jobs are being cut, and wards are closing down. This pattern will be repeated across the country. The millions in profits being diverted offshore could and should be re-invested in our schools and hospitals.

PFI has always been a huge drain on the public sector, costing billions over the odds – but the galling spectre of one hospital for the price of two is even more disgusting in the current financial climate.

And now, not content with charging over the odds for changing light bulbs or running catering contracts, these private companies are cheating the country out of millions in taxes.

The Tories are intent on bringing in the private sector to run public services, and this will be the result; money that should be re-invested in giving the public better services goes straight into the profits of greedy business, lining shareholders’ pockets. Through the financial crisis, UNISON has been calling for a fairer route to recovery, and a huge part of our alternative plan includes fair taxation, a Robin Hood Tax on the banks, and making sure companies pay their fair share in tax.

There is no way that companies not paying their fair share towards our country should have anything to do with our public services. The government must crack down on the tax dodging companies like HSBC-owned HICL, hold them to account and make them pay their fair share.

http://twitter.com/peterptashko/status/59874526296686592 Peter Ptashko

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/trakgalvis/status/59875248618737665 Trakgalvis

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/c_a_jonestechno/status/59875478458212352 CAROLE JONES

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/unisontweets/status/59876056244568064 UNISON – the union

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/unisonmv/status/59876152398987264 UNISON MillionVoices

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/nhsspy/status/59876378341933056 Watching You

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/leezi/status/59876761239945217 Leezi

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/ravensrod/status/59876952261136384 Ferret Dave

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/dazmando/status/59876988734803968 Darren Bridgman

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/frdragonspouse/status/59877174135627776 Jill Hayward

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/staffsunison/status/59878305502986240 Staffordshire UNISON

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/superfurryandy/status/59879375335735296 Andy Bean

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector http://t.co/0mDFmze
http://twitter.com/stephenmilward/status/59879875561009152 Stephen Milward

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/britunculus/status/59880239731453952 Ashley Bramwell

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/brixtonite/status/59882227386957824 Brixtonite

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/steverichhooked/status/59883193775562753 Steve Rich

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/tonydowling/status/59883795465248768 Tony Dowling

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/apertureimage/status/59886697080561664 Chris

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
Anon E Mouse

Dave Prentis – Remind me why you didn’t kick up this fuss when the Labour Party was in government and put rocket boosters under the awful PFI system.

Whilst everyone agrees PFI is the biggest scam inflicted on this country most can remember – a charter to give taxpayer’s money to big business – perhaps a little humility from Unison in respect of their previous silence would be nice…
http://twitter.com/potteye/status/59903738629984256 mike barnes

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://www.MarkPack.org.uk Mark Pack

Impressive really to manage a whole post laying into government policies that Labour introduced, and not mention Labour at all – yet still get in a dig about the Tories. Sure that was just an accidental oversight
Rich

The proliferation of very bad PFI deals is something that Labour really can’t be forgiven for. Wasted so much public money already, and we’re going to be paying for these deals for years.
http://twitter.com/sean_gittins/status/59910256477732864 Sean Gittins

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/thercutsnotours/status/59910733487546368 Ian Rathbone

HSBC company set up HICL 6 months ago and already taken £38m profits from 33 PFI schemes and paid only £100k tax… http://fb.me/DASNbIul
http://twitter.com/howardjackson09/status/59914381596692480 Howard Jackson

Not only do PFI contractors rip off taxpayers with extortionate prices and are unaccountable, they don't even pay taxes.http://bit.ly/gMU7aR
http://twitter.com/gplondon/status/59916405004451840 Geoffrey Pearson

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector http://bit.ly/hpkyST PLEASE read. This is criminal.
Anon E Mouse

Mark Pack – I actually think the Tories under John Major brought it in.

I agree with your sentiment entirely though…
http://www.democracy4stoke.co.uk/?p=704 The sickening PFI profiteerers leeching funds out of the public sector |

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http://www.mycommunityvoice.co.uk/?p=569 The sickening PFI profiteerers leeching funds out of the public sector « Community Voice – VOTE on 5th MAY!

[...] at: http://www.leftfootforward.org/2011/04/private-finance-initiative-profiteering/ : Election 2011, In the NEWS : 2011, elections, hospitals, nhs, pfi, politics, [...]
http://twitter.com/acidfascists/status/59952296896905216 Acid Fascists

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis
http://twitter.com/brianfmoylan/status/59963130167562240 Brian Moylan

The sickening PFI profiteerers leeching funds out of the public sector – Left Foot Forward – http://bit.ly/h4uqB6 – #pfi #ukpollitics
Northern Worker

Never mind who thought of PFI in the first place, it was Tony Blair who expanded it to the present level. Yes, we are being robbed but then Labour – and come to that the coalition – cannot seem to write a contract or work out consequences.
http://twitter.com/myinfamy/status/59987269918007297 Daniel Pitt

The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR #ConDemNation
http://twitter.com/blogsoftheworld/status/59994790053421057 blogs of the world

Dave Prentis, General Secretary of UNISON, exposes the sickening tax-dodging companies rip… http://reduce.li/7cjri1 #forward
Ed’s Talking Balls

As a preface to my post, I won’t stand up for any government which wastes money on inefficient projects. Doesn’t matter which party’s in power, it’s just plain wrong.

So if the Coalition is wasting money on PFI then that’s a disgrace, particularly given what was said pre-election.

But for the author to make no reference to Labour is telling. Rank hypocrisy.
A Common-Sense

Never mind the Robin Hood Tax, it won’t stimulate investment and economic growth which is needed to put this country back on it’s feet. We should follow Hong Kongs model and scrap income tax altogether, we pay enough tax in VAT, Fuel, Council tax, National Insurance, the last thing we need is another tax. Someone on £12,000 pays £7,000 of it in tax, and the government has to supplement their income to keep them out of poverty, where is the sense in that? Just let them keep all their hard earned cash. If we had more cash to spend due to more money in our wage packet it would stimulate economic growth. The past can’t be changed unless you have invented a time machine, so no matter how or who allowed PFI to become policy, a slagging match won’t change things. We need an instant boost to our economy and scrapping income tax would boost spending quickly.
http://twitter.com/carolynanderson/status/60310113294094336 Carolyn Anderson

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http://www.mycommunityvoice.co.uk/?p=560 The sickening PFI profiteerers leeching funds out of the public sector

[...] at: http://www.leftfootforward.org/2011/04/private-finance-initiative-profiteering/ : [...]
http://twitter.com/charceeholden/status/61366351167619072 Charlie Holden

RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector http://bit.ly/hpkyST #savetheNHS