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Showing results for tags 'privatisation'.
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Government pulls all Learndirect contracts and funding https://www.theguardian.com/education/2017/aug/15/government-pulls-all-learndirect-contracts-and-funding?subid=19389892&CMP=EMCNEWEML6619I2 Learndirect, which was privatised by David Cameron’s coalition government in 2011 and is majority-owned by the private equity arm of Lloyds Bank An FT/FE Week investigation this week found that in the four years since it was sold off, it parent company spent 84% of its income, most of which came from the taxpayer, on payments to managers and financiers. learndirect opposed publication of the report "which gave the provider the lowest possible rating" because it would "create a risk of “irreparable damage including financial consequences”." The shape of things to come for Hunt the Hated's sell off of the NHS's taxpayer money saving Staffing arm. https://www.ft.com/content/5bc8444a-5979-11e7-9bc8-8055f264aa8b
Why is why Jeremy Hunt, the health secretary selling a profitable and effective company his Department of Health owns, Which save the NHS and UK Taxpayers £70 MILLION pounds a year? "On the government’s own estimates NHSP saves the taxpayer around £70m a year by organising last-minute or replacement staffing for NHS trusts" "NHSP supplies staff cheaper than those obtained through private agencies which Simon Stevens, the chief executive of NHS England, has castigated for charging “rip-off” rates." "It is thought ministers hope to realise about £50m for a 75% stake in the firm" "Madders is also concerned that if the DH finalises the sale by the end of August, when parliament is not sitting, MPs would be denied proper oversight of the deal. “This deal is being pushed through behind closed doors”, he says in his letter." https://www.theguardian.com/society/2017/jul/27/labour-demands-inquiry-into-privatisation-of-nhs-owned-recruiter?subid=19389892&CMP=EMCNEWEML6619I2 Staffline tables bid for NHS nurses agency amid privatisation row "The current NHS Professionals sale process - codenamed Project Florence - is only the latest attempt to part-privatise the staffing agency, following an aborted previous effort." http://news.sky.com/story/staffline-tables-bid-for-nhs-nurses-agency-amid-privatisation-row-10885313 NHS staffing agency moves towards privatisation "Philip Dunne, minister of state for health, in November said the partial sale was required to bring in “substantial investment” to improve and expand the service" - which currently SAVES the NHS £70 MILLION a year
I have written on the forum over the past few years about the Ministry of Justice's plans to privatise the courts fines collection departments and in January a press announcement was released that (wrongly) stated that BT were the preferred bidder for this large contract. The article was not accurate. Today, it has been confirmed that the preferred bidder is the large US firm Concentrix. It should be stressed however that the Ministry of Justice have not as yet signed a contract. A link to the press article is below and for ease of reference, I have copied an extract of the article: http://www.theguardian.com/law/2015/jun/26/concentrix-ministry-justice-bailiff-contract-threatened-tax-credit-claimants?CMP=twt_gu PS: I am not around for most of the day and will post further information later on.
It amuses me that the lady appointed by government to look at network rail suggests that privatisation may be an option. The upgrade and ongoing maintenance of a very old railway is very expensive. Any private investors are going to want guarantees from government that the company will be given the money it needs. I cannot see a blank cheque being given. Apparently it was a surprise how complicated it was to upgrade the Great Western line from Paddington to the west country and Wales. Trying to electrify a line with all the bridges, tunnels, stations, nearby towns/cities was always going to be very challenging. They are doing the work, while trying to run a normal service on the line. My opinion for what it is worth, is that the government should drop HS2 and instead invest the money in upgrading the network over the next 20 years. They will have to accept that the upgrade works will take longer than expected and cost more. If they bring in private companies with competition for jobs of a limited number of qualified engineers, the engineers will do very well as they are poached by other companies. They need to have one public company that is properly run and accountable to government and parliament.