pfi - meltdown in west london
WORKERS, NOV 2004 ISSUE
The largest NHS Private Finance Initiative scheme in London, involving three hospitals, two of them specialist heart hospitals (The Royal Brompton and Harefield), plus Imperial College, is teetering on financial meltdown.
The Paddington Health Campus is now overspent by £418 million, nearly half the £900 million of additional government spending in the last 12 months on the whole of the NHS. The scheme has been beset with secrecy, design failures, hugely lucrative land swap deals between the builders, developers and the NHS, and possible takeover bids of the lead property company.