Private companies with contracts to build and run NHS hospitals have made pre-tax profits of £831m over the past six years and are on track to profit another £1bn in the next five years, according to a report by the Centre for Health and the Public Interest (CHPI).

The CHPI, which analysed accounting data from the Treasury and Companies House for the period from 2010 to 2015, found that the cumulative deficit of all NHS hospitals over the period covered by this study was £3.4 billion, meaning that the impact of this underfunding would have been reduced by just under a quarter if the £831m in pre-tax profits made by PFI companies had instead gone to fund patient care.

Responding to the findings of the report, UKIP’s Health Spokesman, Dr Julia Reid MEP, said: “The sheer scale of waste here is gut-wrenching. Thanks to both Labour and the Tories, these private companies are profiteering off the back of hard working British taxpayers at a time of ever increasing austerity in the NHS”.

“According to figures released by the treasury these deals will have created £57bn of assets, however, by the time PFI contracts have all been paid off they will have cost £307billion in total – this is over five times the value of the assets.

“These PFI agreements, which were brought in under the Labour government, just go to show how short-sighted politicians are when they’re desperate for votes.”

Dr Reid added: “A UKIP government would not continue to privatise the NHS by the back door, as both Labour and the Conservatives have done, and we would end the use of PFI contracts within the NHS where financially viable to do so”.