What the EU Court of Auditors found was that, even though the public were paying €1.5 billion for cost overruns, they were also providing investors with returns of up to 14 per cent.
Despite election promises, "we have seen a steady erosion of funding that's putting services at risk. That’s not what Manitobans want and it’s not what the Premier promised them.” — Michelle Gawronsky, MGEU President
For governments, trying to transfer the risk of delays in construction or cost overruns to the private sector with a P3 privatization scheme is like gambling in a casino. You might come away a bit richer, but there’s a much, much better chance you’ll lose money.
The failure of Carillion is yet another example of how the myth that P3 privatization schemes save the public money by transferring risk to the private sector doesn't reflect reality.
“Thanks to P3 privatization schemes, money that should be funding quality public services is ending up in tax havens.” — Larry Brown, NUPGE President
“The size of the gap between what the cash flows for the three hospital projects show and what Partnerships BC claimed shows why the public needs access to all information regarding P3s and other privatization schemes” — Larry Brown, NUPGE President
Privatization of long-term care services is a lose-lose for residents and communities.
"This situation is yet another reminder that health and safety legislation is much more effective where the labour movement is powerful enough to prevent it being ignored.” — Larry Brown, NUPGE President
“Government talks about job creation as a priority, but when it has the chance to protect the jobs of New Brunswick workers, they side with business.” — Susie Proulx-Daigle, NBU President
“I can’t believe that after the recent million dollar decision of the McNeil government not to privatize the motor vehicles, land and joint stock registries that [it] would even consider allowing the private sector anywhere near our health care system,” says Danny Cavanagh, NSFL President