PFI Profits

The vast profits being made by contractors and banks selling equity in PFI project companies was exposed by the BBC File on 4 programme on 13 June. The programme was based on The £10bn Sale of Shares in PPP Companies: New source of profits for builders and banks, and earlier evidence in Global Auction of Public Assets by Dexter Whitfield. BBC Podcast: PFI Profits File on 4, 14 June 2011 – 38 mins BBC Press Release: HM Treasury ‘in dark’ over ‘excessive’ PFI profits

Further reports in Financial Times, Daily Mail, Daily Telegraph, Left Foot Forward, Tax Justice Network and Open Democracy.

Download: The £10bn Sale of Shares in PPP Companies which details profits from equity sales and the use of tax havens – s/ essu-research-report-no-4-the-ps10bn-sale-of-s/

See also:

Financial Times, 20 June 2011: PFI projects switched to tax havens, report claims gqz

Daily Mail, 15 June 2011: £2bn secret profits on PFI gravy train: Public-sector projects are massive money spinner ects- massive-money-spinner.html

Daily Telegraph, 15 June 2011: £2bn profit for companies selling debt on public projects ing- debt-on-public-projects.html

Tax Justice Network, 15 June 2011: BBC explains tax scam in UK's Private Finance Initiative

Left Foot Forward, 15 June 2011: Democratic erosion, profiteering and tax havens: PFI equity sales exposed by Dexter Whitfield. ens- private-finance-initiative-equity-sales-exposed/

Open Democracy, 22 June 2011: PFI transferring billions from UK taxpayers to private financiers ns- from-uk-taxpayers-to-private-financiers


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This document was created by Dexter Whitfield on 2011-06-15 10:54:16.
This document was last modified by Dexter Whitfield on 2011-06-23 15:57:36.
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