Budget Resolutions — Amendment of the Law

Part of the debate – in the House of Commons at 4:17 pm on 22nd March 2006.

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Photo of David Taylor David Taylor Labour, North West Leicestershire 4:17 pm, 22nd March 2006

In his list of areas of the economy where unjustified profits have been made, will my hon. Friend consider including companies such as Laing, which is the midwife to many private finance initiative projects? Ten days or so ago, it announced that its so-called PFI investment quintupled in a relatively short period and that its profits had increased by 43 per cent. The income stream that it received from those projects was twice the base rate, so it is no wonder that 60 acute NHS trusts, to which he has referred, have commitments to PFI payments that exceed 10 per cent. of their revenue. Does he not agree that that is only going to get worse?