Pfi

[Bagpuss]

Who would come up with such an idea?

"The PFI was introduced under the Tories in 1992 but did not take off until Labour took office."

You know what I'm going to do? I'm gonna moan!

[GreenerGrass]

I really think that we should run our Limited Companies by with our own PFIs. Income £80,000 Management fees to offshore company £70,000. UK tax=£300 offshore Tax = £500.

They'll probably let you if you make big enough donations to the Labour party.

[ASB]

Schools maintenance sold to PFI so they can’t get a local builder to do a Jib for £18,000 they have to get the same builders via PFI management at £36,000

It's not that bad. It's worse

The school generally have to get the work done via country (some scools with foundation status don't). The first thing that happens is that county charge some 20 odd percent for managing the bid.

[Clog II The Avenger]

Stop complaining and buy shares in HSBC. If you can't be part of the solution, be part of the problem.

I really think that we should run our Limited Companies by with our own PFIs. Income £80,000 Management fees to offshore company £70,000. UK tax=£300 offshore Tax = £500.

[GreenerGrass]

There is a vast swathe of people in this country who, despite the total **** up in Iraq and massive corruption, will vote for whoever The Sun tells them to.
If The Sun backs Cameron in the next election and the ghosts of Herr Tebbit and co. are finally laid to rest then there may be a change of government.
I think if Cameron made pulling out of Iraq and Afghanistan an election pledge he'd win regardless. He'd even gain a lot of votes from disillusioned Labour voters in ethnic minorities. I don't think he will though.

[Lucifer Box]

Look, lads, you've got it all wrong. Lease payments to PFI companies are investment. Look, it says so in the UK plc accounts.

Gordon Brown.

[AtW]

What is PFI really? PFI is a monopoly - you have one or two firms bid fixed price for a range of services, this fixed price may sound good on paper, but because public entity in PFI can't use competitors it means that PFI firm is at liberty to charge what it wants for specific things like change of socket or moving that board as much as it wants to make profit, and profit they make.

The whole structure is corrupt - you have to be insane to have just one supplier, the only side it will benefit is the supplier - especially if they know that you got the money and that taxpayer will always bail you out.

[BoredBloke]

I was told of a trust who wanted to have a white board moved from one wall in the office to the opposite side of the office. They were quoted £2400 and a yearly maintenace fee of £47.

[AtW]

3 ft is 1 meter, many single power cords are that long - it would not have been called extention cord, it would be just a cord.

But you right about PFI - its a rip off designed to buy businessmen not to oppose NL and give them generous donations.

[Lucifer Box]

Stop complaining and buy shares in HSBC. If you can't be part of the solution, be part of the problem.

[Clog II The Avenger]

I use extention cord in such cases @ cost of £3 from IKEA...

That’s the reason I had to get the socket moved; the MOD health a safety officer said I can’t use an extension lead.

[DimPrawn]

The voters will react to this kind of thing by voting them back in for another 5 years.

[AtW]

I had a similar problem working with the MOD. It took five months the visits from a team of consulates and on electrician and one builder to move a socked three feet.

I use extention cord in such cases @ cost of £3 from IKEA...

[Clog II The Avenger]

Interesting programme on BBC last night on the governments PFI (private finance imitative). I have worked on IT projects with PFI and so I had an idea on how profitable these schemes are. But I did not realise how much. Some of the education projects are returning 70% profit per year and it is staving schools of funds because they are locked into PFI contracts. For example it cost one school £300 to get a light switch changed. (I had a similar problem working with the MOD. It took five months the visits from a team of consulates and on electrician and one builder to move a socked three feet. It cost £800. I could have done the same job in my lunch break and it took me longer to write the report requesting the move)

Not content with the high profits the PFI companies can sell there contracts onto third parties. IT GETS WORSE THAN THIS. The Home Office building is maintained by a PFI. The PFI Contract was sold to HSBC, who sold it the HSBC in Guernsey and they pay just £500 tax. Many other PFIs do the shame with the end companies ending up offshore particularly in Guernsey. For shareholders benefits they advertise vast profits, and for UK tax purposes they claim losses, how? End offshore company accounts often showed no employees or assets etc. but what they did put was Company management fees (eg £750,000) this money disappear into other offshore companies such as Panama etc. On questioned a governments PFI official it was stated that this practice is perfectly legal.

So let’s take a quick look of what the government are doing to help their cronies avoid tax. Revenue and customs sell the freehold of their property to a Bermuda company and rent it back from them. Schools maintenance sold to PFI so they can’t get a local builder to do a Jib for £18,000 they have to get the same builders via PFI management at £36,000

The responsibility for building maintenance and cleaning for the Home Office is HSBC, who can sell shares for the PFI from their Guernsey Bank so the investors do not pay ANY tax of annual returns of 18 to 75%.

I believe that the level of corruption in this country since Blair came to power has exceeded that of Italy.