Banking on NHS profits
A REPORT from the public accounts committee says that Britain's biggest bank, HSBC, and its investors, have made around £100 million from NHS hospitals. HSBC's subsidiary infrastructure company, HICL, manages NHS hospitals where contractors charge taxpayers inflated bills for simple tasks.
Hospitals are charged £210 for an electrical socket, for example, and £200 to fit a computer socket. Since it was launched in March 2006, the HICL fund, based in Guernsey to save HSBC taxes, has acquired large stakes in 27 private finance initiative (PFI) schemes.
PFI schemes are already far more expensive than publicly funded schemes, having to allow for massive profits but these sub-contracted firms add millions to the NHS's costs. In 2006, £180 million was made by such contractors for expensive extras that a PFI hospital is contractually obliged to use.
The conclusion many people will come to is that the only banks that should be involved in the NHS are blood banks!
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In The Socialist 11 June 2008:
Socialist Party NHS campaign
Anti-racism
Socialist Party editorial
Obama declares victory, and shifts to the right
Socialist Party campaigns
"Anti-terror" laws are no solution
Defend Tommy Sheridan
Stirring rally backs Tommy Sheridan
Unison witch-hunt hits Northern Ireland
Campaign for a New Workers Party
Come to the Campaign for a New Workers' Party Conference
New Labour's parallel universe
Socialist Party youth and students
Underfunding youth facilities: It makes no sense!
Socialist Party feature
Oil price shock - the chaos of capitalism
Sudan's poor paying the price for oil
Socialist Party review
Immortal Technique at the Coronet, London 4 June 2008
Socialist Party workplace news
Usdaw needs a fighting leadership
Organise to fight the public-sector pay robbery
National Shop Stewards Network second conference
Fujitsu workers strike to save jobs
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