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."

No comments:

Review: It happened in Hell

 It seemed to me that this book set out to do two main things. One was to demonstrate that so many of our notions of what goes under the lab...