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Sheep magazine Archive 2: issues 10-17

Lefty online magazine: issue 10, May 2016 to issue 17, November 2016

Lefty online magazine: issue 10, May 2016 to issue 17, November 2016

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£<br />

HSBC also has a controlling stake in many<br />

Private Finance Initiatives (PFI) schemes,<br />

and even owns PFI hospitals outright. HSBC<br />

was caught red-handed laundering money<br />

for Mexican drug cartels, organisations<br />

linked to Al-Qaeda, Russian gangsters and<br />

sanctions busting. Yet HSBC is also profiting<br />

from the dismantling of healthcare.<br />

The Treasury building upgrade is a Private<br />

Finance Initiatives (PFI) scheme, and HMRC<br />

is renting offices from a company registered<br />

in an offshore tax haven thanks to a Private<br />

Finance Initiatives (PFI) scheme. You really<br />

couldn’t make this stuff up. In fact, publicprivate<br />

partnerships have even been<br />

exported globally including to Iraq and<br />

Libya. Private Finance Initiatives (PFI) has<br />

been such a roaring success that George<br />

Osborne was rolling out Private Finance<br />

Initiatives 2, the blockbuster sequel, before<br />

he got the chop.<br />

7<br />

Artwork: Thomas Nast<br />

Some smaller hospitals have already been<br />

able to buy their way out of Private Finance<br />

Initiatives (PFI), and there are multiple<br />

precedents for taking services back into<br />

public hands when the private sector fails.<br />

So it’s time for the Private Finance<br />

Initiatives (PFI) debt to be cancelled<br />

and the introduction of a future policy<br />

of financing public infrastructure<br />

directly.<br />

JULY & AUGUST 2016

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