The NAO appears to have woken up to something that campaigners and researchers have been saying for years: PFIs and PF2 are poor value for money. Campaigners have been proved right in spectacular fashion. Now Carillion’s directors and all the others who have milked the public through PFI need to be held to account: the Big Four accountancy firms, major banks and of course all the off-shore investment funds that own the Special Purpose Vehicles (SPVs).
Commenting for the People vs PFI. Dr Helen Mercer said:
“Carillion and all those SPVs which have sub-contracted PFI work to Carillion are in breach of their contracts. Those contracts must be cancelled forthwith without compensation. The work which needs to be done must not be re-contracted back to private firms but be transferred to the public sector with proper employment and pensions rights put in place.”
Questions must now be asked of Government and the UK Treasury, which has acted as a champion of rip-off PFI schemes via ‘Partnerships UK‘ since day one – why Carillion continued to be awarded large Government contracts? even after the scale of its financial woes became clear in 2017?