The Private Finance Initiative (PFI) Fraud

Sun, 10/03/2013 - 15:00
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By Cigpapers-During the late 1990s and through the 2000s New Labour and Gordon Brown signed an unknown total of £billions worth of PFI deals with the banks and private sector.

The figures released by the Government claim that in 2013 we pay around £9billion per year on interest payments alone.

The total cost left for us and our descendants to pay is around £301billion - about £5,000 for every man, woman and child in the Country.

What are PFI deals?

PFI deals are where the Government wants a building such as a school or hospital building and don’t want to finance through normal Government means.

They effectively get a hire purchase deal on the building from banks or private companies and pay over 20 to 50 years, often with maintenance included.

These deals always cost more than usual Government finance and maintenance, sometimes two or three times as much.

Why PFI deals?

New Labour and Gordon Brown first claimed that PFIs were the fastest way to build Government buildings, when this was exposed as obvious rubbish Gordon Brown incredibly claimed that they signed these deals to “hide” Government borrowing from the financial markets, and these expensive PFI deals wouldn’t be counted by City financiers as Public Debt.

To anyone connected to the real World this is obvious nonsense as any half decent financier would be well aware of these PFI deals and would calculate them in as Public Debt.  

Really why PFI deals?

New Labour had the age old problem of transferring huge amounts of Public Spending in to the bank accounts of corrupt Politicians. They went with the PFI fraud as it sounded very Labour to build schools and hospitals to the Public.

The PFI fraud also had the spin-off benefit that the City of London laughably claimed Gordon Brown as financially competent, as he helped them siphon off tens of £billions of Public money.

As usual our corrupt Politicians got their pay-offs in the form of consultancy fees when they left Office.

Was this a victimless crime?

Hardly. Right across the Country the NHS, Councils and other areas of Government have had to make severe cut backs to pay off the PFI fraud.

These cut backs can include meals for the disabled, after Schools Clubs for disadvantaged Children, less Police, less Teachers and cutting back on NHS Staff.

How about the criminals?

Blair and Mandelson are quite open about being corrupt and flaunt their wealth. Mandelson bought a £10 million house for cash as soon as he left Office and Blair is well on his way to becoming a billionaire.

Brown has the problem of when to break cover and buy the first big house, and as usual is a ditherer. The Milibands are just starting to pick up their first few £millions in consultancy fees.

How about the Victims?

That’s us Joe Public. We’ll all moan about it, but we’ll let our Families and descendants do with less to pay off the PFI fraud rather than do anything about it.

Is the PFI fraud linked to the Bilderberg Group?

All the major New Labour criminals are regular Bilderberg Group attendees where they receive their instructions regarding Globalisation and multiculturalism, so it’s not inconceivable they got their instructions for the PFI fraud there.

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