privatise

Labour’s public-private plans are just a return to the dreaded PFI era

Spread the love

https://morningstaronline.co.uk/article/labours-public-private-plans-are-just-return-dreaded-pfi-era

Shadow Chancellor Rachel Reeves in the shadow of Tony Bliar.

SOLOMON HUGHES warns Reeves’s proposed national wealth fund hands City financiers control over billions in public money for big business — and we get… to pay!

HOW will Keir Starmer’s Labour try to “grow the economy?” The short answer is it is going to try to use public money to persuade international investors to put cash into “growth” industries.

It’s the return of the public-private partnership. The big danger is that, like Labour’s last public-private partnership, the private corporations will get all the growth, while the public sector gets ripped off.

The main economy-grower Starmer is promoting is Rachel Reeves’s proposed national wealth fund. It will invest in key industries like “green energy” and other modern manufacturing sectors.

There is a strong Labour case to run a national bank investing in key industries: the 1945 Labour government set up two such banks, the Industrial and Commercial Finance Corporation and the Finance Corporation for Industry, which lent growth capital to small- and medium-sized industries or larger manufacturing firms respectively.

Labour argued that the City avoided investing in these crucial sectors, exacerbating the 1930s Depression. Both government-founded investment funds were very successful. Jeremy Corbyn’s Labour proposed similar publicly owned national investment banks.

But Reeves’s plan makes public money subordinate to private investment. She told the last Labour conference: “For every pound of investment we put in, we will leverage in three times as much private investment.”

Labour plans to invest £7.3 billion in the fund, and so attract around £22bn private “co-investment.” Reeves says private money will be attracted because the government cash will be “encouraging and derisking investment” from international finance: investors will assume that if the government has a stake in, say, a car battery factory, that it is a “sure thing” and won’t be allowed to go bust or lose money for shareholders.

But what happens if the publicly backed investments hit trouble? Say the car batteries come out too expensive, reducing profits, or need extra investment to fix production problems — will the private investors insist that the public investor take the losses? And if the profits are bigger than expected, will both parties benefit equally?

There are some major signs Reeves’s deals will favour the big private investors. First, because it is putting in more of the money, they can call more of the shots. This is not really a national wealth fund because most of the money will not be national.

…

https://morningstaronline.co.uk/article/labours-public-private-plans-are-just-return-dreaded-pfi-era

Continue ReadingLabour’s public-private plans are just a return to the dreaded PFI era

“Austerity is a political choice, not an economic necessity” – Jeremy Corbyn on #Budget24

Spread the love

https://labouroutlook.org/2024/03/06/austerity-is-a-political-choice-not-an-economic-necessity-jeremy-corbyn-exclusive-on-budget24/

Image of Jeremy Corbyn MP, former leader of the Labour Party
Jeremy Corbyn MP, former leader of the Labour Party

“Today’s budget exposes a government that is blind to the scale of the crises we face. While private companies are taking home more profit than ever before, more than 4 million children live in poverty.”

Jeremy Corbyn MP

“Austerity is a political choice, not an economic necessity” – Jeremy Corbyn exclusive on #Budget24

Jeremy Corbyn MP writes for Labour Outlook on #Budget24.

This is what we said back in 2015, five years into a devastating programme of cuts and privatisation. We knew that austerity would decimate our public services, plunge millions into poverty and send our country into economic decline. It was true then – and it is true now.

Today’s budget exposes a government that is blind to the scale of the crises we face. While private companies are taking home more profit than ever before, more than 4 million children live in poverty. A quarter of a million people are homeless, while millions more languish on social housing waiting lists. Our NHS is on its knees after decades of austerity and privatisation.

Perhaps most alarmingly, we are sleepwalking toward a climate emergency. Make no mistake, the climate crisis is here, and we are running out of time to avoid total catastrophe. People in the Global South are already suffering the worst consequences – more and more people in this country will experience the devastating effects of air pollution, heatwaves and flooding.

The Tories’ economic experiment has failed – and they should not get off lightly. Parroting the language of austerity is a grave mistake, and represents a missed opportunity to bring about the transformative change this country needs. When there are more billionaires in this country than ever before, the idea that we cannot afford to build a fairer and greener society is absurd. We have the means to end poverty, pay our workers properly and save the planet. We just need the political will.

Millions of us still believe in a real alternative.

One that funds a fully-public NHS; austerity and privatisation are the causes of – not the solutions to – the healthcare crisis.

One that introduced rent controls and builds social housing; we will never tackle the housing emergency until we treat housing as a human right, and embark upon a huge council house-building programme.

One that invests in a Green New Deal to transform the economy and create thousands of green, unionised jobs.

One that scraps the 2-child benefits cap; this cruel and callous policy is a moral disgrace, and we could pay for the abolition of this policy seventeen times over with a 1-2% wealth tax on people with assets over £10 million.

One that brings energy, water, rail and mail into public ownership; privatisation has been a total disaster, and it’s time we stood up to the companies holding our country to ransom.

Our economy is not just broken. It is rigged in the interests of the few – and unless we fundamentally rewrite the rules of our economy, nothing will change. There’s nothing fiscally responsible about plunging millions of people into poverty or destroying our natural world. Why can’t we have the courage to campaign for a more joyful, equal and sustainable future?

As the MP for Islington North, I will continue to campaign alongside my community for a redistribution of wealth and power. For an economy that puts human need before corporate greed. For a society that cares for each other and cares for all.

https://labouroutlook.org/2024/03/06/austerity-is-a-political-choice-not-an-economic-necessity-jeremy-corbyn-exclusive-on-budget24/

Continue Reading“Austerity is a political choice, not an economic necessity” – Jeremy Corbyn on #Budget24

Natalie Bennett: The state of our NHS is down to long-term political failure

Spread the love

https://leftfootforward.org/2024/02/natalie-bennett-the-state-of-our-nhs-is-down-to-long-term-political-failure/

The Green Party holds that the profit motive should have no place in our health care – in any form of care

Natalie Bennett is a Green Party member of the House of Lords. She was leader of the Green Party of England and Wales from 2012-16.

…

Perhaps because it is a continuing story of disaster, there’s few stories now also about the impact of privatisation, despite the level continuing to rise. In 2022 nearly 10 per cent of treatments for NHS patients, more than 2 million people, were provided by private companies, up from 3 per cent in 2011. Yet there’s evidence that in areas where privatisation is at the highest levels the outcomes are dire – in the form of more people dying from treatable causes.

In mental health care – in the face of terribly tragedies, and much higher levels of privatisation, with public provision gutted – there’s been more attention. Now 55 per cent of under-18 inpatient mental health care is delivered by for-profit providers.

Meanwhile, we are all continuing to pay for the disaster of Labour Party-promoted Private Finance Initiative (PFI) schemes. That sees some hospitals paying a sixth of their total budget on payments, frequently to offshore hedge funds, and from a £13 billion original investment a final bill that will reach £80 billion, the equivalent of £1,200 for each person in the UK.

The Green Party holds that the profit motive should have no place in our health care – in any form of care – but the current largest opposition party, Labour, appears to be a fan of even further steps of privatisation.

There’s also long term underfunding, with austerity in the face of a growing and ageing population having disastrous impacts. Provision for investment on infrastructure and technology collapsed; the RAAC crisis was just one visible tip of a very large iceberg of decline.

And that austerity saw a collapse in real terms of the pay of nurses and doctors, which has seen a huge exodus overseas and to other jobs, meaning huge understaffing, which puts massive pressure on remaining staff.

Make no mistake. The state of the system is not the fault of medical staff. It is not the fault of managers. It is a long-term political failure, the application of ideology over evidence, the interests of private companies over public good.

…

https://leftfootforward.org/2024/02/natalie-bennett-the-state-of-our-nhs-is-down-to-long-term-political-failure/

Continue ReadingNatalie Bennett: The state of our NHS is down to long-term political failure

NHS to investigate Palantir after spy tech firm plotted influencer marketing campaign to counter critics

Spread the love

https://morningstaronline.co.uk/article/nhs-investigate-palantir-spy-tech-firm-plotted-influencer-marketing-campaign

Health workers form a blockade in Soho Square during a protest outside the London headquarters of US tech giant Palantir, which was awarded a £330 million contract by NHS England last month to create a new data management system called the Federated Data Platform, December 21, 2023

THE NHS is set to probe potential contract breaches by US spy tech firm Palantir after the company plotted an influencer marketing campaign to shut down criticism from campaigners.

Palantir failed to seek prior approval from NHS England for a marketing campaign promoting its £330 million contract to run a data platform for the health service.

The contract sparked fierce criticism from campaigners who cited privacy concerns over sharing medical data with the secretive firm, which was first funded by the CIA.

According to leaked emails, Palantir hired PR agency Topham Guerin, which previously ran campaigns for the Conservative Party, and marketing agency Disrupt, to approach influencers.

The brief outlined a campaign to “clear up misinformation relating to some recent data privacy concerns that were shared in the UK press.”

It went on to accuse The Good Law Project, which flagged concerns over safeguarding data, of “spreading fear.”

…

https://morningstaronline.co.uk/article/nhs-investigate-palantir-spy-tech-firm-plotted-influencer-marketing-campaign

Continue ReadingNHS to investigate Palantir after spy tech firm plotted influencer marketing campaign to counter critics

Green Party conference: Carla Denyer and Adrian Ramsay put demands for public ownership front and centre

Spread the love

https://bright-green.org/2023/10/06/green-party-conference-carla-denyer-and-adrian-ramsay-put-demands-for-public-ownership-front-and-centre/

Green Party co-leaders Carla Denyer and Adrian Ramsay have delivered their speech to their party’s autumn conference with a call for key public services to be brought into public ownership. The conference speech – likely the last before the next general election – ripped into the failures of privatisation in sectors from water to the health service.

Green Party Co-leader Adrian_Ramsay. Wikipedia CC.
Green Party Co-leader Adrian_Ramsay. Wikipedia CC.

Ramsay told attendees: “Private water companies are dumping sewage into our rivers and seas, while taking on billions in debt to fund dividend payments to shareholders.”

He went on to say: “We’ll have the platform to say what none of the other parties has had the courage to say: that the privatised water companies have failed, that there must be no more shareholder payouts until the water companies stop dumping sewage in our rivers, that the money we pay for our water bills must be spent updating our infrastructure not filling the pockets of shareholders, and that water is run as the public service that it should be, not the profit-making scheme that it’s become – by bringing it back into public hands.”

Ramsay’s comments were met with eruptions of cheers and applause from the audience.

Image of the Green Party's Carla Denyer on BBC Question Time.
Image of the Green Party’s Carla Denyer on BBC Question Time.

Denyer, meanwhile, highlighted the issues currently facing the NHS. She said: “The NHS and our other public services have been brought to breaking point by 13 years of Conservative cuts – with patients and staff paying the price. Has it ever been so hard to find a dentist? Have we ever had to wait so long to see an NHS consultant? Those that can afford it are forking out for private health care, those who can’t afford it are left behind. And meanwhile, no solutions are being offered.”

She went on to criticise the record and position of both Labour and the Tories on the health service, telling attendees: “The Tories blame medical staff – those frontline workers calling for a long overdue and well-deserved pay rise, and Labour’s promise of ‘reform’ rings hollow given the scale of the crisis – and hints at more privatisation by the back door. We know we can do better than this.”

Finishing her comments on the health service, Denyer called for the NHS to be reinstated as a fully public service – with free dental provision included. She said: “The Green Party believes in an NHS that sits fully in public hands,  free at the point of use for all – including dentistry – and with four Green MPs in Parliament, we’ll never let the other parties forget it.

“We know that claps don’t pay the bills. We believe in decent pay and fair conditions for public sector workers and an NHS that provides the health safety net it was designed to all those years ago.”

…

Elsewhere in their address, Denyer accused the Labour Party of being “more interested in fossil fuel investors getting their dirty profits” than addressing the climate crisis. She told the conference: “Energy bills in the UK are nearly £2.5bn higher than they would have been if the government hadn’t dismissed climate policy over the last decade. Not content with that, they are now doubling down on their climate vandalism: granting permission for a huge coal mine; failing to get a single bid for vital offshore wind projects; weakening our net zero commitments; and opening up the enormous Rosebank oilfield.

“And Labour are following them every step of the way – willing onlookers to the Conservatives’ climate crimes. Rosebank? ‘The right decision,’ says Gordon Brow[n]. Their reasoning: ‘investor certainty’. Sounds good right? But let us translate: Labour is more interested in fossil fuel investors getting their dirty profits, than in taking meaningful climate action.”

https://bright-green.org/2023/10/06/green-party-conference-carla-denyer-and-adrian-ramsay-put-demands-for-public-ownership-front-and-centre/

Continue ReadingGreen Party conference: Carla Denyer and Adrian Ramsay put demands for public ownership front and centre