Could PFIs be replaced by DPMTs?
PFIs are parasitic on the public sector. In an age when the economy as corporate financial capitalism has failed catastrophically for the majority of people, the need for different economic solutions are pressing. A major perversity of the current situation is the poring of workers pensions into the financial markets run by the very people who have weakened the economy for the majority, reducing it to considerable extent into casino capitalism. The pensions funds would be better put into democratic administration and be accountable to investor members.(1.) Some of the pension funds could then be invested into mutual trusts (DPMTs) working with NHS Foundation Trusts and replace the PFIs. (Private Finance Initiatives) . This would have the double benefit of returning benefits to pension fund subscribers, many who might also be members of the community or NHS workers. The core of the NHS can remain as a public service in partnership with mutual enterprise belonging to the stakeholders that use and work for the NHS This would be a far more benign relationship that bringing in corporate capitalism into the heart of a public commons. These suggestion might satisfy the concerns of critics of the use of mutuals within the NHS. Bringing democracy and mutual relations into the public sector can only have integrity if the members as workers and community support it. Support is more likely if the stakeholders are genuinely empowered . A new generation of public sector trust enterprises democratically accountable might be attractive to the public while establishing a new model for public enterprises. Democracy on a one citizen one vote basis will trump the market as an equitable form of accountability but work needs to be done to make democratic accountability effective.
1. See link on blogroll to : Why Not a New Deal Financed by Workers?