I am rather at a low ebb right now but I couldn't let this one go by.
The next bit of madness is the proposal that the ailing Private Finance Initiative plunders the pension funds of local government employees.
The Times has it.
PFI, the official propaganda states, "provides a way of funding major capital investments, without immediate recourse to the public purse".
That, of course, is a lie. It is merely a way of keeping the massive public debt commitment to PFI off the balance sheet. The word to watch is "immediate". Long after the gerry built hospitals and schools fall down we will be still servicing the debts on the public share of of the finance. These schemes extend way into the future. Many have simply stalled when the private interests have taken our money and run.
The cost of servicing the debts (not paying them off) on hospital PFI schemes in one year is £500 million.
So the next plan is to steal from pension funds to shore this obscene scheme up. It is yet another example of Labour's scorched earth policy that will ensure that you and I are paying for their misdemeanours for the next few decades, and in this case, specifically, massive hikes in council tax.