Are you defending PFIs? Whilst it might not make financial sense to cancel the PFIs now, to have entered into PFIs was folly in the first place. Its the privatisation of the NHS without the supposed benefits of privatisation (efficiency, although thats not true for a lot of free enterprise) as well as other government projects.
We are effectively borrowing lots more money than were allocated just to make this year look better than it is. Just kicking the finances down to the future generations
I worked in and around the NHS in the late 80s and bits of the 90s, including involvement in the commissioning of the ‘new’ (now old) block at the Whittington Hospital in Archway and working with doctors and other clinicians on the design of several PFI projects. All were nightmares, for various reasons. But I cannot imagine how the state would have got the massive amount of capital required to replace and renew the crumbling estate which formed a large percentage of NHS buildings without private sector financing. I suppose the alternative would be borrowing and taxation, which would still have gone to the private sector because the state did and does not run construction businesses. Of course, none of these builds have been perfect as the demand forecasting, predictions of workforce and skills, and knowledge of coming technology were weak at best.
I may be in a minority but I really don’t care who provides public services as long as they are good quality and free at the point of delivery, paid for out of progressive taxation. The focus should be on quality rather than on ‘ownwership’. Not that I’m wildly impressed with the quality of bits of public services which are privately provided. PFI is the least of the challenges facing the NHS, workforce issues and availability of the most modern treatments and technology are far bigger problems in my opinion. And in this case Labour have just seized on something which will be popular with their ideologues, rather than addressing the hard stuff. Like the hospital in Kent with over 300 nursing vacancies, which tried to recruit from Manila, but when 50 nurses turned up 90% failed the English language test. What is their plan for urgent and immediate problems like this? I think the electorate would be more impressed with something concrete on this.
In an ideal world I’d do without PFI, but it’s not a burning issue for me.
The talk of pension funds being ruined is a giant red herring in my opinion (and alluding to punishing poor OAPs is not worthy of you, Stan). Scrapping PFIs and re-nationalising natural monopolies is about an overdue re-balancing of private/public ownership. Why let private (or overseas state-owned) companies make profits out of our state institutions when we should own and invest in them ourselves, benefitting everyone? Pension funds will have to work a bit harder for their members and find less-easy pickings.
I didn’t mention poor OAPs mate, I was talking about people who have attempted to plan for their retirement. If Labour gets in and does this, paying off the contracts in full, fair enough. If it tries to do it on the cheap it will lose in multiple ways. My problem with state run industries isn’t the principle, it that in my experience they aren’t very good, in this country at least.
But the fundamental point I was making is that the Labour policy on this is badly thought out, designed to get a cheer at the conference, hence the almost instant contradiction of MacDonnell from other bits of the Shadow Cabinet. They are obviously taking their lead from the real cabinet.
