The NHS as an unassailable Public-Private Wealth Transfer Mechanism

‘Wealth Transfer Mechanism’

I’m sure I haven’t invented the term, neither am I the first to give a name to this concept, but I just like that term as it’s simple and accessible. It describes a way of sending public taxpayer money (often in fact taxpayer’s crippling debt) to private companies, for private profit and private wealth.

How this is happening now

It’s increasingly apparent through some of the COVID-19 procurements and finance announcements that they are not even afraid of being found out any more. Estimates of the worldwide market for personal protective equipment (PPE) last year put it at about £40 billion. Yet, in the latest Chancellor’s Summer Statement, the UK has announced it will spend £15 billion (37% of the worldwide market) on PPE, which represents about £14,000 for each and every NHS staff member — it just seems implausible. (Note that only a minority of NHS staff need to wear full PPE, and not necessarily for all their work)

Why the NHS is the perfect WTM vehicle

The NHS makes a particularly good Wealth Transfer Mechanism vehicle because it’s so very close to people’s hearts in the UK. Whereas government spending in most other areas is always subject to criticism, spending on the NHS has an almost inverted effect — the larger the number that you are spending, the better you look as a government.

Why this means the NHS will never be privatised

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Marcus Baw

Marcus Baw

#HIT100 NHS GP | Clinical Informatician | Ruby & Python dev | co-founder NHSbuntu & openGPSoC | Freelance Health IT