http://dwhc.org.uk/2013/06/18/response-to-islington-gazette-article-june-2013/ Campaigning to save beds, jobs, services and buildings and to stop privatisation Fri, 04 Dec 2015 16:22:20 +0000 hourly 1 https://wordpress.org/?v=5.6.6 http://dwhc.org.uk/2013/06/18/response-to-islington-gazette-article-june-2013/comment-page-1/#comment-169507 Fri, 04 Dec 2015 16:22:20 +0000 http://dwhc.org.uk/?p=3170#comment-169507 The situation isn’t so clear.Gordon Brown sumibtted pre-budget estimates in December which were unconvincing. He also couldn’t have known that Blair would give away half a billion pounds of the EU rebate. So the government will need to borrow to cover this, and do so rather quickly if wage bills are to be met.And, of course, this cash-flow crisis is believed to affect for more areas than have currently been disclosed.The PFI schemes have been compared to the special-purpose entities used by Enron to hide the scale of borrowing outside the balance sheet. Like the bankruptcy of Railtrack, this is going to either cause a major crisis (unlikely, as you suggest) or rapidly come back on-balance-sheet.

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