Read on Twitter
Lots of interest in the placing of PPE contracts with dormant companies (ie the below, today, for £43.8m). I see this as part of a pattern of groups choosing to put PPE contracts into entities with limited or no assets. https://ted.europa.eu/udl?uri=TED:NOTICE:410318-2020:TEXT:EN:HTML&src=0
Lots of examples, including putting contracts in the weakest entity in the group, in a Newco, establishing a new Holdco to hive assets up to, and so on.
Makes a lot of sense looked at through the eyes of the Group: if (like many of those Government has contracted with) you don't really know what you're doing, you get to both stand in line whilst Government hands out public money and limit your exposure to the risks of doing so.
But it makes very little sense for *us*.
Here I explained why Government was (I think) *mad* to buy £32m of coveralls - which all the objective evidence suggests were unlikely to be usable - from an entity which was to all intents and purposes asset-less. https://twitter.com/JolyonMaugham/status/1299388199555522561?s=19
Here I explained why Government was (I think) *mad* to buy £32m of coveralls - which all the objective evidence suggests were unlikely to be usable - from an entity which was to all intents and purposes asset-less. https://twitter.com/JolyonMaugham/status/1299388199555522561?s=19
It's pretty clear Government had no idea what it was spending £32m of our money on. And if what it got was unusable, what then? How will it get its money back from an essentially valueless company?
Such a pity the BBC has lost interest in covering these stories. I imagine Lord Reith envisaged a broadcaster that focused more on the vital role given to the Fourth Estate in a democracy than on carrying right-wing light entertainment.
