Link to this page: https://secure.socialistparty.org.uk/issue/537/6141
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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Coronavirus crisis - Finance appeal
The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.
The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.
The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.
- The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
- Our 'fighting coronavirus workers' charter', outlines a programme to combat the virus and protect workers' living conditions.
- When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
We therefore urgently appeal to all our viewers to donate to our special coronavirus appeal.
In The Socialist 11 June 2008:
Socialist Party NHS campaign
Stop the NHS sell-off
Banking on NHS profits
My pain - and privatisation
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
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
The Socialist 11 June 2008 |
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