Posted by seumasach on December 28, 2010
These are some of the hidden debts which make Britain the world’s leading economic basket case, its AAA rating notwithstanding. Here we have a cool £15,000 per head for a lot of tenth rate new schools and hospitals some of which are unlikely to be still standing while the debt is still being paid off.
27th December, 2010
Posted in UK economy | Tagged: "public private partnership" | Leave a Comment »
Posted by seumasach on September 14, 2010
Michael Hudson
14th September, 2010
I can smell the newest giveaway looming a mile off. The Wall Street bailout, health-insurance giveaway and support of real estate prices rather than mortgage-debt write-downs were bad enough, not to mention the Oil War¹s Afghan extension. But now comes a topper: the $50 billion transportation infrastructure plan that Obama proposed in Milwaukee cynically enough, on Labor Day. It looks like the Thatcherite Public-Private Partnership, Britain¹s notorious giveaway to the City of London underwriters. The financial giveaway had the effect of increasing prices for basic infrastructure services by building in heavy financial fees guaranteed for the banks, who lent the money that banks and property owners used to pay in taxes in more progressive times.
Posted in Financial crisis, UK economy | Tagged: "public private partnership" | Leave a Comment »
In These New Times 