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Innisfree is one of the leading beneficiaries of Labour's PFI contracts
We are mounting an ongoing campaign to embarrass Innisfree at their offices on the seventh floor of an anonymous office building at 33 Gutter Lane
Dress as doctors, nurses, wounded patients or bankers.
We are publicising the role of PFI contracts in the NHS and have delivered a letter to David Metter, boss of Innisfree, asking for a meeting.
Please spread the word.
Letter to be signed by groups opposed to PFI bankrupting the NHS:
Dear Mr Metter,
We are a group of citizens who have become concerned with the effects that PFI schemes are having on our public services. On March 1st we tried to visit you in your office and talk with you about these schemes. Sadly, security and the police wouldn't even let us through the front door. So we thought that we might put our case to you in writing and ask whether we could have a face-to-face meeting in which we could discuss these issues further.
As you are no doubt aware, PFI schemes are bankrupting NHS trusts and local authorities around the country. The South London Healthcare Trust for example, was bankrupted by the interests payments it was forced to pay to a consortium of which you and Innisfree were a part. As a result, the government is going to cut healthcare services across South East London, including closing Lewisham Hospital's A&E and maternity services. This is not an isolated case. It is reported that up to 22 NHS trusts are facing serious financial difficulties because of expensive PFI schemes, six of which are thought to be at risk of bankruptcy.
In light of these facts, we ask that Innisfree annul all of the existing PFI schemes that it participates in and profits from. They are destroying the public services that we all rely on and they will leave thousands of people without adequate access to crucial services such as healthcare.
You will probably protest that private companies like Innisfree have put large amounts of money into financing these projects and that they deserve a decent return on them. By most people's standards, however, you have already made an incredible amount of money out of these schemes. According to accounts filed at Companies House in 2010, Innisfree’s profit margin was 53 per cent. Given that a successful FTSE 100 company like Tesco makes margins of around 6 percent, this figure is astronomical. However, it isn't very surprising that you are doing so well. Before central government stepped in, the South London NHS trust had already paid the consortium of which you are part double what it cost to build the hospitals at Woolwich and Farnborough. You also managed to refinance the Norwich and Norfolk Hospital PFI scheme, lengthening the NHS’s repayment term but raising your own rate of return from 16 to 60 per cent. However, even this is small fry compared the PFI deal for Bromley Hospital on which, according to the National Audit Office, you will make a 71% profit.
We believe you have made enough money at the expense of the tax payer and ask that you do the right thing and scrap these exploitative contracts.
However, if you remain unconvinced, we'd be more than happy to organise a meeting and put our case to you in person.
We hope to hear from you soon.