Partners will be presenting to the Housing Scrutiny Committee at 7 pm on March 3rd at the Town Hall, it will be worthwhile attending to grill Tom Irvine on the way forward…
I understand that many people have been asking what happens when the PFI 2 properties are handed back to the council in 2022 in regard to outstanding repairs, billing, and recharging to leaseholders… Calum Fraser (of the Tribune) should be present from 7 pm to document any outstanding problems with Partners for the Tribune, and the Gazette should also be represented… Mick O’Sullivan (Chair) has suggested that anyone having outstanding issues should contact him personally, prior to the meeting… Hope to see you all on the 3rd March, Brian Potter…Chairman: – Islington Leaseholders Association (ILA)
On Wednesday 8th January the Law Commission published its report – “Leasehold home ownership: buying your freehold or extending your lease”. The Commission sets out options to reduce the cost that leaseholders have to pay to buy the freehold or extend the lease of their homes, and follows its September 2018 consultation paper. Click here for more information and a summary of the options in the report
Between 2012 and 2018, JLIF which invested in 65 PFI and Public Private Partnership schemes around the world, had pre-tax profits of £526.1m but paid only paid £2.1m (or 0.4pc) in UK tax. Academic and housing campaigner Stuart Hodkinson, whose 2019 work Safe As Houses scrutinies the “corporate greed” of PFI schemes, estimates the total contract value of PFI 1 is £357m, while PFI 2 is said to be worth £421.3m.
Dr Brian Potter, chair of Islington Leaseholders Association, led a campaign to stop the PFI deals in the early 2000s. He argues offshore or tax haven registered companies profiting from PFI deals, while not illegal, is “unethical” and “insidious”. He said: “This is one of the major problems with selling off contacts. Once you have sold the contract you have no control, so there is no quality control – nobody accepts responsibility for anything wrong with the original contract. You’re just left with a money spinning machine just eating money over the years. It was the worst council financing decision.”