The sickening PFI profiteerers leeching funds out of the public sector

Dave Prentis, General Secretary of UNISON, exposes the sickening tax-dodging companies ripping off the taxpayer by leeching funds out of the public sector.

Dave Prentis is the General Secretary of UNISON, Britain’s biggest public sector trade union with more than 1.3 million members

Private Finance Initiative (PFI) profiteering has hit a new low. It is a disgrace that private companies such as HSBC are hoarding massive PFI profits, milked from cash-strapped schools and hospitals, in tax havens.

In just six months a company set up by HSBC, called HICL, has made £38 million in profits from 33 PFI schemes. Not only is the company ripping off the taxpayer by leeching funds out of the public sector, it’s not paying its fair share of tax either. Its Guernsey, tax haven status, means that it’s paid just £100,000 in tax – less than 1%.

Meanwhile, in a Portsmouth PFI hospital, owned by HICL, 700 jobs are being cut, and wards are closing down. This pattern will be repeated across the country. The millions in profits being diverted offshore could and should be re-invested in our schools and hospitals.

PFI has always been a huge drain on the public sector, costing billions over the odds – but the galling spectre of one hospital for the price of two is even more disgusting in the current financial climate.

And now, not content with charging over the odds for changing light bulbs or running catering contracts, these private companies are cheating the country out of millions in taxes.

The Tories are intent on bringing in the private sector to run public services, and this will be the result; money that should be re-invested in giving the public better services goes straight into the profits of greedy business, lining shareholders’ pockets. Through the financial crisis, UNISON has been calling for a fairer route to recovery, and a huge part of our alternative plan includes fair taxation, a Robin Hood Tax on the banks, and making sure companies pay their fair share in tax.

There is no way that companies not paying their fair share towards our country should have anything to do with our public services. The government must crack down on the tax dodging companies like HSBC-owned HICL, hold them to account and make them pay their fair share.

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39 Responses to “The sickening PFI profiteerers leeching funds out of the public sector”

  1. Peter Ptashko

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  2. Trakgalvis

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  3. CAROLE JONES

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  4. UNISON - the union

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  5. UNISON MillionVoices

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  6. Watching You

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  7. Leezi

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  8. Ferret Dave

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  9. Darren Bridgman

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  10. Jill Hayward

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  11. Staffordshire UNISON

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  12. Andy Bean

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector http://t.co/0mDFmze

  13. Stephen Milward

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  14. Ashley Bramwell

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  15. Brixtonite

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  16. Steve Rich

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  17. Tony Dowling

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  18. Chris

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  19. Anon E Mouse

    Dave Prentis – Remind me why you didn’t kick up this fuss when the Labour Party was in government and put rocket boosters under the awful PFI system.

    Whilst everyone agrees PFI is the biggest scam inflicted on this country most can remember – a charter to give taxpayer’s money to big business – perhaps a little humility from Unison in respect of their previous silence would be nice…

  20. mike barnes

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  21. Mark Pack

    Impressive really to manage a whole post laying into government policies that Labour introduced, and not mention Labour at all – yet still get in a dig about the Tories. Sure that was just an accidental oversight 🙂

  22. Rich

    The proliferation of very bad PFI deals is something that Labour really can’t be forgiven for. Wasted so much public money already, and we’re going to be paying for these deals for years.

  23. Sean Gittins

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  24. Ian Rathbone

    HSBC company set up HICL 6 months ago and already taken £38m profits from 33 PFI schemes and paid only £100k tax… http://fb.me/DASNbIul

  25. Howard Jackson

    Not only do PFI contractors rip off taxpayers with extortionate prices and are unaccountable, they don't even pay taxes.http://bit.ly/gMU7aR

  26. Geoffrey Pearson

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector http://bit.ly/hpkyST PLEASE read. This is criminal.

  27. Anon E Mouse

    Mark Pack – I actually think the Tories under John Major brought it in.

    I agree with your sentiment entirely though…

  28. Acid Fascists

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR by @UNISONtweets Dave Prentis

  29. Brian Moylan

    The sickening PFI profiteerers leeching funds out of the public sector – Left Foot Forward – http://bit.ly/h4uqB6 – #pfi #ukpollitics

  30. Northern Worker

    Never mind who thought of PFI in the first place, it was Tony Blair who expanded it to the present level. Yes, we are being robbed but then Labour – and come to that the coalition – cannot seem to write a contract or work out consequences.

  31. Daniel Pitt

    The sickening PFI profiteerers leeching funds out of the public sector: http://bit.ly/gMU7aR #ConDemNation

  32. blogs of the world

    Dave Prentis, General Secretary of UNISON, exposes the sickening tax-dodging companies rip… http://reduce.li/7cjri1 #forward

  33. Ed's Talking Balls

    As a preface to my post, I won’t stand up for any government which wastes money on inefficient projects. Doesn’t matter which party’s in power, it’s just plain wrong.

    So if the Coalition is wasting money on PFI then that’s a disgrace, particularly given what was said pre-election.

    But for the author to make no reference to Labour is telling. Rank hypocrisy.

  34. A Common-Sense

    Never mind the Robin Hood Tax, it won’t stimulate investment and economic growth which is needed to put this country back on it’s feet. We should follow Hong Kongs model and scrap income tax altogether, we pay enough tax in VAT, Fuel, Council tax, National Insurance, the last thing we need is another tax. Someone on £12,000 pays £7,000 of it in tax, and the government has to supplement their income to keep them out of poverty, where is the sense in that? Just let them keep all their hard earned cash. If we had more cash to spend due to more money in our wage packet it would stimulate economic growth. The past can’t be changed unless you have invented a time machine, so no matter how or who allowed PFI to become policy, a slagging match won’t change things. We need an instant boost to our economy and scrapping income tax would boost spending quickly.

  35. Carolyn Anderson

    The sickening PFI profiteerers leeching funds out of the public sector | Left Foot Forward http://goo.gl/5BNe1

  36. Charlie Holden

    RT @leftfootfwd: The sickening PFI profiteerers leeching funds out of the public sector http://bit.ly/hpkyST #savetheNHS

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