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Ally Bongo

The Labour Party & PFI/PPP contracts

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Done my dissertation on the PFI rip-off circa 10 years ago at Uni. It still amazes me that general public are so unaware of just how much these projects have shafted us. 

A national scandal. 

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those shiny new school buildings that Blair's govt delivered in the midst of economic prosperity heralded an investment in the future, so the story went.

prob too complex for the public to follow, but no question it was classic short termism - a perpetual problem with governments chasing easy votes.

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And then you have the Colonialist media in Scotland 

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9 hours ago, jockodile said:

those shiny new school buildings that Blair's govt delivered in the midst of economic prosperity heralded an investment in the future, so the story went.

prob too complex for the public to follow, but no question it was classic short termism - a perpetual problem with governments chasing easy votes.

It's pretty simple I always thought. Something that would cost x when paid out of public funds alone costs x * 5 thanks to bank and private company profit, but can be kept off the books short-term due to the way the public sector budget is calculated. 

Oh and the profit is privatised but the risk socialised - in theory the private company takes the risk but if they go bust the government will pick up the tab because they won't see schools and hospitals shut.

That's pretty much PFI, nothing more complicated than that.

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