Stop PFI Tax Dodging On NHS Cash
27 Feb 2012
Tax dodging using tax havens on profits from PFI contracts for NHS hospitals should be outlawed says GMB. It is bad enough for taxpayers to have to pay rent for hospitals and schools but it is beyond belief that those making £100’s of millions from this appalling system can stick two fingers up to hard pressed UK families while they enjoy tax free profits from our pockets.
GMB, the union for NHS workers, has written to the House of Commons Public Accounts Committee asking for an investigation into the siphoning off of NHS cash into tax free scams for foreign investors using Channel Islands. This is after it came to light that the holding company of Semperian that owns 35 PFI contracts to run NHS hospitals in the UK is based in Jersey for the express purpose to enable overseas investors to avoid tax on dividend income arising from running these NHS facilities. The ultimate holding company is Jersey registered Semperian PPP Investment Partners Holdings Ltd. GMB is calling on the chancellor to stop this this tax avoidance.
Paul Kenny, GMB General Secretary said “This siphoning off of cash from the NHS into tax free scams for foreign investors into the Channel Islands demands urgent action by the Chancellor to stop it. GMB is asking the Public Accounts Committee to set up an urgent investigation on this. At a time when people are suffering from mass unemployment and wage cuts and ordinary people are being squeezed this Government is presiding over literally suit cases of cash being handed to foreign investors who are taking this much needed NHS money overseas. It is bad enough for taxpayers to have to pay rent for hospitals and schools- but it is beyond belief that those making £100’s of millions from this appalling system can stick two fingers to hard pressed UK families while they enjoy tax free profits from our pockets.”
Semperian PPP Investment Partners
St Martin’s House
No 1 Gresham Street
London
EC2V 7BX
Telephone: 020 3405 1300
Website: http://www.semperian.co.uk/
Semperian is Europe’s largest specialist PPP investment partnership. Victorian Funds Management Corporation of Australia and Transport for London Pension Fund are two major investors having acquired Trillium’s 10% investment in Semperian. It has been reported that Transport for London is the largest investor in Semperian, a conservative MP has debated in parliament that they own over 25%. Semperian was part of Trillium, the outsourcing arm of Land Securities. Land Securities sold Trillium to Telereal in 2009 for £750m to form Telereal Trillium and the 10% stake it had in Trillium PPP Investment Partners fund was sold to existing investors in the fund and Semperian PPP Investment Partners was created.
Chiltern Securities: North Kirklees - Operating and maintaining five healthcare facilities centres for Kirklees PCT
Rotherham Community Hospital - Operating and maintaining a mental health facility hospital to Rotherham PCT
Kirklees Schools - Operating and maintaining eighteen schools for Council at the Borough of Kirklees
Sheffield Schools - Operating and maintaining two schools for Sheffield City Council
North Yorkshire Fire & Rescue Services - Operating and maintaining a fire station and fire training centre for North Yorkshire Fire and Rescue Authority