The Curmudgeon


Tuesday, January 18, 2011

Fury at PFI Horror Report

They're all the bloody same, parliamentary committee concludes

The Prime Minister's claim to be the new Tony Blair was resoundingly confirmed today in a parliamentary report on the New Labour book-keeping trick PFI.

The Private Finance Initiative was conceived as a means of throwing taxpayers' money at profit-making businesses in return for the businesses making a profit.

Anything left over from the profiteering could then be lent back to the public sector in return for more taxpayers' money which would augment the profitability of the profit-making businesses.

New Labour and its successor, New New Labour, often gave administrators no choice other than PFI even when state funding would have been cheaper, the public accounts committee reports.

A spokesbeing for the Conservative Party said: "This shows that New Labour and New New Labour were at least as ideologically hidebound as the Conservatives.

"Except when using it as an excuse for privatising public assets, Tony Blair and Gordon Brown were just as uninterested in driving down costs as David Cameron and George Osborne.

"That is why we opposed them so vigorously in opposition, and that is why we shall continue to oppose them vigorously now that their programme has been rejected by the electorate."


  • At 4:07 pm , Anonymous Anonymous said...

    You missed this bit from the Guardian article.

    "The report drew a sharp response from business leaders, who warned against ministers trying to renegotiate contracts to get a better deal for taxpayers, suggesting that with constrained public finances, the role of PFI could become even more important."

    They have an answer for everything, these anonymous business leaders.


  • At 5:19 pm , Blogger Philip said...

    I didn't miss it; I just thought the poor things have suffered enough ignominy without having quotes like that used against them.


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