Intended for healthcare professionals

Feature Private Finance Initiative

Hard times: is this the end of the road for the private finance initiative?

BMJ 2010; 341 doi: https://doi.org/10.1136/bmj.c3828 (Published 20 July 2010) Cite this as: BMJ 2010;341:c3828

Who owns these PFI contracts

Peter Davies does not address an important issue in relation to PFI
contracts: 'who are they with'?(1) It would be interesting to know which
banks have loaned the money. From my peripheral involvement I recall that
some of these banks are those now owned, or part owned, by the Government.
If that is indeed the case then renegotiating those PFI contracts should
be rather simple.

The Treasury might not be too happy however if the value of those banks is
in part dependent on those lucrative PFI contracts, such that were they
lost, the Treasury would recoup significantly less in a future re-
privatisation.

The real losers, as always, are the weak and vulnerable, the patients; the
winners the likes of Fred Goodwin, retired Chief Executive of RBS, whose
large pension means he will not need the services of the NHS.

1 Davies, P. Hard times: is this the end of the road for the private
finance initiative? BMJ 2010; 341: c3828

Competing interests:
None declared

Competing interests: No competing interests

04 August 2010
Richard G Richards
Assistant Director of Public Health
Babington Hospital, Belper, Derbyshire, DE56 1WH