The debt generation

On July 20th, The Guardian reported that Business Secretary Vince Cable had called off the sale of student loans to the private sector. The £12bn worth of loans, made between 1998 and 2011, was supposed to form part of the government’s privatisation programme and pave the way for further sales. How long the sell-off remains […]

Private Finance Initiative = Institutionalised Theft – The People vs PFI campaign launched to end private profit at public expense

Private Finance Initiative (PFI) schemes were introduced to the UK under the John Major Government in the 1990s, with the first PFI project [Skye Bridge] field tested in Scotland. PFI was significantly expanded under Tony Blair’s New Labour Government who wanted a convenient way of funding public infrastructure “off balance sheet.” Rather than Central Government directly […]