Back to business - what has caught my eye this week?? This little corker for a starters:
"The government could have to bail out Private Finance Initiative projects to the tune of £4bn in the next 18 months, an industry spokesman has warned."
What the fuck?? What the fucking fuck was that???
The government could have to bail out Private Finance Initiative projects to the tune of £4bnHang on a fucking minute - PFI works in 2 ways
1) the government transfer its assets like buildings over to PFI companies, pay the companies a ridiculous amount of wonga to run them, so the company has asset plus income. Or
2) The government pays a PFI company a ridiculous figure per year to supply them with a school, prison or hospital, getting thoroughly shafted into the the bargain and saddling the taxpayer with a 25 year-ish bill
So the PFI company is quids in - and lets not forget that at the height of the PFI bubble big companies were fighting like rats in a sack to get their lips round the governments teet - but yet when itall looks to go tits up they have the brass fucking balls to come back to the trough wanting bail-outs and more cash making .
The whole point of PFI is that the private sector take the risk in return for a huge wad of cash. Not take the cash in return for a taxpayer bailout if things get rocky.
Fuckers. Words fail me; especially when I end up agreeing with the fucking Lib Dems and their school of wolly thinking
"We need to be very careful about the taxpayer taking all the risks and the private partners taking all the benefits," (Vince Cable)
In other news, Lord Mandelson of Bum swears at a coffee retailer after they have the temerity criticise the state of our tattered economy. Bless