This Govt runs on Enronomics.
There are all sorts of problems with PFI. If it's done right (and it hardly ever is), the approach is probably OK for things like schools. Being simplistic, a school building is a school building and we're probably fairly certain we will still need those buildings in 25 years time.
The same is not true of hospitals. These date very quickly as technology develops, and there is no guarantee that what we build today is going to be wanted in 25 years time. And if it's not, PFI means that NHS trusts or their future equivalent, will be paying for white elephnats for the whole of that time...
A year or two back, I wrote to Sir John Bond, then Chairman of HSBC, in respect of some ridiculous changes the Government and FSA, made to the Banks reporting and record keeping. These changes increased Bank costs by many Millions of £Pounds. In the case of the Whole operation of HSBC, the cost increase was £100 Million worldwide.
But at the same time I mentioned PFI, and the Fact that Initial Costs of a project, is not in Fact the Cost. This Figure is moveable at any time. The case of the NNUH., Norwich, is a prime example of the "Lies and Fraud" that is the Motive for using PFI. In the five years of its life, the NNUH, has now entered on its Third Costing. It started at, £129 Million. 2nd. Costing, £229 Million. 3rd. Costing £343 Million.
Time scale ? First time, 30 Years, but over the page, is another Time Scale, 60 Years. And all of these Costs and Time Scales are moveable at any time is suits the "Parties". And the figure for "Off-book" Borrowing , what was it, £60 Billions ? My Estimation is £1600 Billion. Channel 4 Dispatches has the figure at £1500 Billion.
It is my belief that there is No One, alive today who will live long enough to see this nonsense finished. Children who are not yet to be born, and will not arrive on this Earth until 2075, will still spend most, if not ALL their lives Paying for todays Stupidity. That should bring tears to the eyes of all Englishmen. The British Even. My Most Regretful Regards, ATF.
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