Sunday, 9 October 2016

Many PFI projects now owned offshore

"MORE than 40 private finance projects in Scotland –including roads, schools, hospitals and prison – have been moved into offshore tax havens, resulting in a massive loss of tax revenues to the UK Treasury."

"An analysis carried out by think-tank the European Services Strategy Unit (ESSU) found the majority of equity in many PFI projects is now owned by offshore funds."

"In Scotland, the unit reports that there are 19 projects – such as Forth Valley Hospital, Perth and Kinross schools and Edinburgh schools – listed as having 100 per cent equity owned by firms based in Jersey, Guernsey and Luxembourg."

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