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From The Socialist newspaper, 11 June 2008

Banking on NHS profits

A REPORT from the public accounts committee says that Britain's biggest bank, HSBC, and its investors, have made around 100 million from NHS hospitals. HSBC's subsidiary infrastructure company, HICL, manages NHS hospitals where contractors charge taxpayers inflated bills for simple tasks.

Hospitals are charged 210 for an electrical socket, for example, and 200 to fit a computer socket. Since it was launched in March 2006, the HICL fund, based in Guernsey to save HSBC taxes, has acquired large stakes in 27 private finance initiative (PFI) schemes.

PFI schemes are already far more expensive than publicly funded schemes, having to allow for massive profits but these sub-contracted firms add millions to the NHS's costs. In 2006, 180 million was made by such contractors for expensive extras that a PFI hospital is contractually obliged to use.

The conclusion many people will come to is that the only banks that should be involved in the NHS are blood banks!

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In The Socialist 11 June 2008:


Socialist Party NHS campaign

Stop the NHS sell-off

Banking on NHS profits

My pain - and privatisation


Anti-racism

Racist BNP have no solutions!


Socialist Party editorial

Will Obama win?

Obama declares victory, and shifts to the right


Socialist Party campaigns

"Anti-terror" laws are no solution


Defend Tommy Sheridan

Stirring rally backs Tommy Sheridan

Unison witch-hunt hits Northern Ireland


Campaign for a New Workers Party

Come to the Campaign for a New Workers' Party Conference

New Labour's parallel universe

Waltham Forest protest

Them & Us


Socialist Party youth and students

Underfunding youth facilities: It makes no sense!


Socialist Party feature

Oil price shock - the chaos of capitalism

Sudan's poor paying the price for oil

Fast news


Socialist Party review

Immortal Technique at the Coronet, London 4 June 2008


Socialist Party workplace news

Usdaw needs a fighting leadership

Organise to fight the public-sector pay robbery

National Shop Stewards Network second conference

Fujitsu workers strike to save jobs

The costs of privatisation

Brighton bus drivers strike


 

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