50,000 signatures reached
To: Chancellor Sajid Javid and Health Secretary Matt Hancock
Don’t trap our NHS in debt
Stop PFI debt crippling our NHS by:
- Introducing laws that allow the NHS to buy out PFI contracts at a fair price and;
- Increasing NHS capital budget to fund buy-outs.
- Introducing laws that allow the NHS to buy out PFI contracts at a fair price and;
- Increasing NHS capital budget to fund buy-outs.
Why is this important?
Our NHS is being trapped in debt by schemes called “PFIs” - private finance initiatives. These schemes lead to private companies taking up as much as one-sixth of local NHS budgets.
These schemes were designed to help NHS trusts invest in big projects - but they’ve been terrible value for money. In total the NHS will have to pay £80 billion for projects worth only £13 billion.
And because these contracts run for a long time, the worst is still to come. Our NHS will have to pay another £55 billion by the time the last contract ends in 2050. That’s money that will never go to cancer treatment, maternity wards, or care for the elderly.
The NHS was created to save lives, not pay off debt to private companies. It’s time to end this waste and let the NHS spend money on what it does best.
You can find out more information about PFIs and how they work here:
Full Fact: What is the NHS paying for Private Finance Initiatives?:
https://fullfact.org/health/what-nhs-paying-private-finance-initiatives/
These schemes were designed to help NHS trusts invest in big projects - but they’ve been terrible value for money. In total the NHS will have to pay £80 billion for projects worth only £13 billion.
And because these contracts run for a long time, the worst is still to come. Our NHS will have to pay another £55 billion by the time the last contract ends in 2050. That’s money that will never go to cancer treatment, maternity wards, or care for the elderly.
The NHS was created to save lives, not pay off debt to private companies. It’s time to end this waste and let the NHS spend money on what it does best.
You can find out more information about PFIs and how they work here:
Full Fact: What is the NHS paying for Private Finance Initiatives?:
https://fullfact.org/health/what-nhs-paying-private-finance-initiatives/
