Tuesday, 25 January 2011

PFI: Labour's gift to future generations

The Telegraph reports:

"Official figures show that, under Private Finance Initiative [PFI] schemes, British taxpayers are committed to pay £229 billion for new hospitals, schools and other projects with a capital value of just £56 billion. Several contracts are due to run for 60 years, documents released under freedom of information requests show, meaning taxpayers will be paying for the projects for generations to come. "

Thanks Labour. What was that Mises said about socialism and economic calculation?

Hat tip: The Angry Exile


Michael Fowke said...

And people still want to vote for Labour, believe it or not.

Trooper Thompson said...

Yep, and some even listen to Ed "inheritor of Brown's mantle" Balls when he gives his opinion.

People are strange.

Anonymous said...

I'm beginning to think that some people continue to support Labour in the UK the same way some die-hards support the Democrat/Socialist party in the US - only because when they hear of all that money being spent, they believe it won't be their own nor come from their own pockets that much - and when they hear about one group or class being screwed over royal and losing some freedoms, rights or liberties, they figure it won't affect them or ever cross over to snatch away their own freedoms, rights and liberties - nor those of their children - the same children they claim they are doing it for. That is how mesmerizing modern propaganda methods have become that it's deadened the brain cells of a large portion of the population who continue to support these political parties to their own children's and grandchildren's demise.

Trooper Thompson said...


I think there's a kind of 'tragedy of the commons' situation created by massive government intervention. The main error of the left is to think of the state as some kind of defence against predatory corporate interests, when in reality it is the embodiment of these interests, as indicated by these PFI contracts.