Privatise profits; socialise losses

Former Member

What a farce, publicly funded privately run Metronet will get a £1.7 billion bailout from the taxpayer's pockets because they've gone into administration, another fine example of why privatisation doesn't work. This on top of the £37 billion funding commitment to TfL running to 2020, and people wonder where all their taxes go honestly.

No wonder GB's been selling off all the gold, buildings and nuclear power stations, and telling civil servants who want a payrise to afford rising living costs to go f**k themselves, he's got to pay for all the dodgy banks, mounting PFI debt and incompetent companies that go broke skimping all the profits for the shareholders. Not to mention the stupid wars in Iraq and Afghanistan, what a fucking joke. Lol rant over.

Former Member

The biggest disgrace of it all is that this was all initiated by a suppossedly left wing socialist government (LOL).

Gordon can stick his PPPs and his PFIs up his arse. Whoever thought inviting the private sector as a partner was a good idea? At least when something is fully privatised the taxpayer doesn't have to bail out their fuck ups. PPPs offer the worst of both worlds for the public.

Former Member

Aladdin wrote: »

The biggest disgrace of it all is that this was all initiated by a suppossedly left wing socialist government (LOL).

I don't think the New Labour project, Blair/Brown has ever pretended to be left wing and socialist.

Former Member

And I get accused of being hysterical? :rolleyes:

Former Member

stargalaxy wrote: »

And I get accused of being hysterical? :rolleyes:

What's hysterical?

Former Member

Aladdin wrote: »

What's hysterical?

You're usually the first to spot and condemn hysteria, so I'm surprised by that comment.

Let's see... Metronet's effectively gone bankrupt and has to be bailed out by taxpayers. Is anyone honestly surprised? From what I know of the public-private partnership in this case, it's caused nothing but trouble from day one, and has been completely botched. It was almost certainly negotiated by politicians who've never run businesses in their lives. That was bound to be a recipe for disaster.

If you ask me, we need to get rid of career politicians. People complained when politicians took second jobs and made money in the city. What's wrong with that? They were earning money from those jobs, therefore meaning they wouldn't need to be paid so much as MPs. They were also learning about the business world. Just look at the London Olympics. The minister in charge is Tessa Jowell - not only has she never run a business in her life, but she didn't seem to have a clue about her husband's dodgy dealings either. (though I suspect she was just pretending not to know about it myself)

Former Member

There was an excellent File on Four (radio 4) on PFI scheme, you can get the transcript here;

http://news.bbc.co.uk/1/hi/programmes/file_on_4/3708232.stm

Former Member

i think i've criticised them from the outset, simply due to the fact, why mortgage something and be the insurance on payments for something which you can afford outright to do yourself. or just pay for in bonds if you want to make sure it's on time

Former Member

It's the Northern Rock fiasco that gets my goat up the most- the taxpayer is drowning in the shit to the tune of £65 BILLION and do the Northern Rock executives have to repay their multi-million bonuses. Do they fuck, never fear, Gordon's here!

Gordon is already going down in history as the UK's most incompetent prime minister. Not bad when you think his bum chum Blair is the most corrupt prime minister in UK history. They must love their place in history.

Both of them want fucking setting on fire.

Former Member

stargalaxy wrote: »

And I get accused of being hysterical? :rolleyes:

i'm not hysterical i'm PISSED OFF :mad:

it's not just the metronet story, it's everytime i switch the tv on or read the paper there's another government balls up, i pay £800 a month on tax and it all goes on shit like this and it pisses me off. £9600 a year flushed down the loo because of sheer incompetence, why do i even bother it's no wonder all the smart people are leaving this country in droves.

labour inherited a decent economy from the tories and they have destroyed it, i don't think people really understand how fucked this country is thanks to numpties brown and blair. you think america's bad it's gonna be much worse here, they better hurry up with those id cards because they're running out of time.

great documentary here on PFI btw bb....

Former Member

Don't worry, the country's bankrupt, the economy's been running on cheap credit for the last five years.

We're fucked.

Former Member

Kermit wrote: »

We're fucked.

Any politician who admits this truth will get my vote.

Former Member

It's very unlikely that a politician would admit what we all know is true - they're all from the same background, with the same ideas and the same goals. Does anybody know the differece between labour, the conservatives and the liberal democrats?

Former Member

Naturegoddess wrote: »

It's very unlikely that a politician would admit what we all know is true - they're all from the same background, with the same ideas and the same goals. Does anybody know the differece between labour, the conservatives and the liberal democrats?

duh it's red, blue and green innit.

Former Member

Actually Northern Rock is costing taxpayer's £100bn:

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/02/taxpayers_75bn_rock_exposure.html