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Thursday, 2 June 2011

BBC Question Time - Sale & Leaseback vs PFI's

Alan Johnson's protestation that Southern Cross' action in selling their homes and leasing them back should never have been allowed to happen is pretty rich coming from him.

His government spent £billions on pfi's ( private finance initiatives) which simply involves the NHS putting out to tender the building of a new hospital. Included in the contract (pfi) is a supply agreement for the successful contractor to equip and provide the services for that hospital for the next 30 years.

This has proved to be a disastrous policy and many hospitals who have been put down this route by the Labour government are now finding their finances aren't viable, the  payments for the buildings and services provided by the successful contractor are at rates which were never going to be affordable.

No doubt this Labour shambles will have to be sorted out once again by somebody else, when will this country learn that Labour have no idea how to run a business never mind a country.

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