{"id":17131,"date":"2012-09-05T07:14:46","date_gmt":"2012-09-05T06:14:46","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=17131"},"modified":"2012-09-05T07:15:39","modified_gmt":"2012-09-05T06:15:39","slug":"time-to-end-pfi-by-compulsory-repurchase","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/09\/05\/time-to-end-pfi-by-compulsory-repurchase\/","title":{"rendered":"Time to end PFI by compulsory repurchase"},"content":{"rendered":"

The Bureau of\u00a0Investigative\u00a0Journalism<\/a> reports this morning that:<\/p>\n

As crippling repayments on private finance initiative (PFI) contracts force NHS hospitals to make cuts, a new report reveals that the firms profiting from the deals are using tax havens to avoid paying millions of pounds in tax.<\/p>\n

A report by the European Services Strategy Unit, and covered in the Sunday Times, reveals that as many as 70 NHS PFI projects are based off-shore.<\/p><\/blockquote>\n

I contributed in small part to the Sunday Times story to which this is linked. And the fact is that this trend will continue: NHS sell offs from Foundation Trust are going to become normal. As budgets are squeezed asset sales and leasebacks will become prevalent as a means of filling the gap and then one day we'll realise the whole NHS infrastructure is owned offshore as a means of taxing the economy for the\u00a0benefit\u00a0of a few.<\/p>\n

I've said this before that this is equivalent to the 18th\u00a0century\u00a0enclosure\u00a0movement, where the commons were seized and walled off from those who had a\u00a0traditional\u00a0right to access them to create a new land based wealth for an elite. Now I'll say it again: this is about selling a common good for private gain and as Allyson Pollock<\/a> has argued time and again, we'll long live to regret it.<\/p>\n

My\u00a0answer? Compulsory repurchase at undeveloped land value paid with gilts that are not saleable for a significant period. And if that seems harsh, so be it: this is about\u00a0reclaiming\u00a0the common good from those who have sought to destroy it.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bureau of\u00a0Investigative\u00a0Journalism reports this morning that: As crippling repayments on private finance initiative (PFI) contracts force NHS hospitals to make cuts, a new report
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