[Closed] The genius of PFI

I hate PFI.

PFI is financial con-artistry (read: off the books) - the consequences of which were entirely predictable. See also the NHS, MOD, etc.

No coincidence that there is a nicely-greased revolving door between Government and the various management consultancy/industry interests which these bludy stupid contracts end up favouring. So, we will still be paying for 'em - even as frontline services are cut!

Possibly a bit of union scaremongering going on there but PFI is generally a ridiculous travesty - should be more of a scandal about it tbh. There are schools in Burnley where they can't even turn lights on and off or change the heating level without ringing a call centre in America, and they can get fined enormous amounts of money for not following the 'correct procedures'.

I though the involvement of the private sector was supposed to get rid of inefficiency? 🙄

Try reading Private Eye without getting angry - the failures of PFI seem to be highlighted more or less every issue.

The whole London Underground PFI went well, didn't it?

The whole thing is ridiculous. We make shit-loads of profit at the taxpayers expense. But if for one second that doesn't look like enough, we'll just walk away, no doubt triggering some ludicrous 'compensation' clause in the contract, claim even more taxpayer cash, then leave you mugs to pick up the pieces!

Whoever negotiated the contracts for the government, clearly had a previous job negotiating contracts with the players at Leeds United

NHS pfi's are a joke. 25 year contract agreements to pay a private company over the odds for buildings. The wasteage and layers of duplication of tasks just so the private company makes more money is ridiculous.

I know of one pfi scheme that is about to be given the go ahead which will cost over £1m. The district valuer has already said the completed building could only ever be worth half that. So where's the value in that one for the NHS?

Interesting that George is still [url= http://www.guardian.co.uk/politics/2011/apr/18/george-osborne-backs-pfi-projects ]happily signing off PFI contracts[/url], despite past Tory rhetoric about Brown hosing cash at the wall... 🙄

A politics thread and no finger-pointing?

That'll not last long.

A politics thread and no finger-pointing?

It's about time people in this country started pointing rifles, imo. 😈

Come the glorious day, I will be rounding up management consultants seconded to DoH.

That's the spirit.

Interesting that George is still happily signing off PFI contracts, despite past Tory rhetoric about Brown hosing cash at the wall

PFI first came about under Major. Yes, a Tory.

I spent a short part of my early legal career doing PFI work. the contracts are by far the most complex I have ever seen. They are enormous, full of pages and pages of algebra no-one understands and involve a cast of thousands.

Though I went on to be an M&A lawyer (the used car salesmen of the legal world), I always felt that PFI was a moral and ethical step too far.

PFI first came about under Major. Yes, a Tory.

Indeed, OMITN, [url= http://www.partnershipsuk.org.uk/index.aspx ]PartnershipsUK[/url] was originally a Tory creation, though the Blair/Brown years really fed the monster... It's fugging aggravating, not least because there was much opposition to these policies on the ground (e.g. [url= http://en.wikipedia.org/wiki/Allyson_Pollock ]Allyson Pollock[/url] - who pretty much predicted what would come to pass).

I've no axe to grind with Tory or Labour specifically, more generally at the sheer bloody waste of future money.

OTOH, lots of infrastructure work was done. Just paid for on the never never.

Keeps me in a job so f you all 🙂

If you were paid to hurl turds at little old ladies would you do it? 😆

[i]If you were paid to hurl turds at little old ladies would you do it?[/i]

They [i]pay[/i] people to do this? Where do I sign up?

Keeps me in a job so f you all

I believe Mugabe still has a job too. 🙂

Wot's M&A law? :thick:

Mergers and Acquisitions

Monkeys and Antelopes. Its very niche