News review: with Labour councillor for Southmead Jenny Smith The rip-off that is Southmead PFI. Southmead Hospital â parking, bed shortage, £33m in debt after PFI, banks; Joel Benjamin from People vs PFI explains PFIs are by far the most expensive way to pay for hospitals and other public institutions â profits at taxpayers expense, public money to insolvent banks again; PMQs â DETAILS OF NORTH BRISTOL NHS TRUST SOUTHMEAD HOSPITAL PFI: - - NBT are £33 million in debt and they failed to account in their financial planning for additional fees for cleaning surgical equipment, storing medical notes and for the Frenchay to Southmead park and ride. They have been referred to the Sec of State who may decide to ask the Trust Development Agency to open up a tender process, but Andrea Young has moved quickly to send the Dept of Health a financial report saying that they have a 2 to 3 year financial turnround policy. ON the PFI: The total debt is £627 million over 30 years. made up of £430 million construction costs and around £170 million in facilities management. The European Investment Bank put up £250 million at the initial stage, but then Lloyds Bank (in partnership with Carillion as the builder but at no cost to them) put up £627 million of senior debt, equity etc which they then had to take out insurance for. Lloyds acted as the main financial partner but thought that the risks associated were very high, so immediately decided to stay as the lead financier but to package a financial package to other financial groups. So the Lloyds part reduced as RBS put up £75 million, NAB (national australia bank) £51 million, Credit Agricole (french) £51 million and Soc Gen £50 million. leaving Lloyds with £150 million. - - Manchester - move health budgets to local control; PMQs Ed Miliband â should MPs have two jobs â unions; PMQs Tony Baldry â long term economic plan â jobs, deficit and debt, cuts; stock market shares soaring â QE, capitalism; Anna Minton who wrote Ground Central: fear and happiness in the 21st century â cities public places being privatised, private security; Jenny Allen from Homes for Britain â bus going round country, housing problems, immigration, British boom/bust versus Germany, social housing; rough sleepers up 55% under coalition government â pension funds into housing; Telegraph owes HSBC £250m â wont publish bad stories about them; local press â Bristol Post, 24/7 takeover: new publisher Mike Bennett contacts founder and editor after an article critical of mayor George Ferguson by text advising him not to bee so critical of the mayor because Bristol 24/7 publishers want to keep him sweet; suicides in prison related to staff cuts â expert told he is not allowed to say this.
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