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    With the pfi hospital contracts, in order to get the debt off the PSBR there was no recourse to the central government.. The ultimate debtor is the NHS trusts. The pfi investors took comfort from the belief that the government could not conceivably allow a trust to go bust. But that is exactly what they must now do in cases where the pfi payments are crippling the trust. Just one test case, to see what the courts make of it, and the pfi providers will be queueing up to renegotiate.

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