01 June 2009

PFI -the biggest expenses scandal we don't notice

I've thought this for a long time: perhaps I'm missing something but I think George is right: Monbiot.com � The Biggest, Weirdest Rip-Off Yet: "one of the banks reported to be backing the scheme is RBS. The taxpayer now owns 58% of it. This is likely to rise soon to 95%(18). If the government underwrites the M25 expansion, it will in effect be bailing out RBS twice then charging itself for the privilege – and for the bankers’ fees, including salaries and bonuses. RBS – in other words you and me - already has �10bn invested in PFI schemes in this country(19), for which we are paying extravagant rates."

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