So the Public Accounts Committee has lambasted the Department for Transport's role in the Metronet debacle.
This from the Local Government Chronicle:
PAC chairman Edward Leigh said: “The taxpayer has lost up to £410m as a result of the Department for Transport’s inadequate management of the risks arising from the Metronet contracts for upgrading the infrastructure of the underground.
Mr Leigh called the DfT’s assumptions about management of the contract “flawed from the outset” and “naïve”, while the belief that lenders would exert strong influence on Metronet’s governance and financial health was undermined because the DfT shouldered 95% of their risks.
No shit Sherlock.
Meanwhile Eye awaits a suitably contrite apology from Metronet's former shareholders: Atkins, Balfour Beatty, Bombardier, EDF Energy and Thames Water.
But we won't hold our breath.
Grimsby and Back
2 years ago
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