Protect the public sector from future Private Finance Initiatives (PFI)

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Protect the public sector from future Private Finance Initiatives (PFI)

Petition Details

PFI’s charge on average 15% interest pa for 30 years. We propose that all future public sector infrastructure projects should be paid for through Public Finance Initiative Bonds (PFIB’s) where members of the general public could invest via the post office into PFIB’s in return for a 5% interest p.a.

Additional Information

The NHS is currently paying £3,729 every minute to private companies as part of an annual repayment fee for building and operating new hospitals or redeveloping old ones.
PFIBs could replace PFIs and be similar to National savings bonds where the general public deposit money (say a minimum £1,000 for a minimum of 5 years) via the post office into a PFIB this would be used to build future public infrastructure projects. Even allowing for 5% operating costs this would reduce our costs by over 25%

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