Guernsey Press

No tax dodge on UK hospital deal, says local firm

A GUERNSEY investment firm has defended its operation following claims that it was set up to help divert millions of pounds of NHS money.

Published

A GUERNSEY investment firm has defended its operation following claims that it was set up to help divert millions of pounds of NHS money.

The BBC said that HICL, which was created by the high street bank HSBC, had used a legal tax loophole to handle the profits from private finance initiatives, such as the Queen Alexandra Hospital in Portsmouth.

In a PFI, a private sector consortium will form a project company to bid for a concession contract, such as a school or hospital, in the public sector.

If successful, it will be responsible for the financing and construction of the project and its long-term maintenance.

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