Everything you need to know about the people at the very top who run this country on our behalf is summed up in the bidding competition to run the West Coast main line train route.
Put simply, the process to bid for the 13 year franchise (worth around £5 billion) was fatally flawed and the winner (First Group) bid on different terms to its competitors.
The Outcome......
Firstly, the decision to award First Group the franchise has been overturned whilst the process is reviewed and likely to be repeated on a level playing field. 21% of the company value has been wiped off via the stock market share price and thousands of jobs are now at risk.
Secondly, £40 million of taxpayer money must be paid out to the 4 companies to reimburse the costs of their bids. That's £40 million......of our money.
If Westminster cannot get the process right to award a £5 billion contract, is it any wonder I have constant concerns at their ability to manage a far bigger economy.
We are one of the most significant players in world economics but this is amateurish.
The most shocking thing is that this isn't shocking.
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