Military buying is set to be privatised.

Its reported that Britain has moved a set closer to privatising the multimillion pound arm of government that buys and maintains all military kit. We may get excuses from Philip Hammond that private companies could save the tax payer millions of pounds in procurement but again is this just another kind of PFI that is good for big companies to cream off moneys for their share holders or the rich people who invest in such companies. We have seen how millions of pounds has been wasted with the PFI of fire stations and hospitals that are going bankrupt due to them being unable to meet their financial obligations, this again is tax payers money. The MoD over the years has made drastic errors in the equipment that it has ordered. Equipment that they decided that the military needed, contracts that have over run due to their incompetence not the manufacturing industry. We have seen the debacle over the Olympic games security that has fallen well short of what was required. The company G4S said that it was still taking its fee of around £57 million even though it had failed. The government said that it had contingency plans for such things happening. If that is correct then why wasn't this money paid for more police and army personnel to guard the games in the first place. A police spokes person said that if the £480 million paid to G4S had been spent on the police they could have hired another 15,000 officers for at least a year. In the late 1950's and early 60's the manufacturer of Bristol Bloodhound missile that was a successful project, was told by the government audit office  that Ferranti had made far large profits that  projected from the Bloodhound contract. Ferranti Chairman Sebastian de Ferranti agreed to pay back $4.25 million to the government in 1964. He was also told that if he didn't pay back the money they would not be allowed to bid for any more government contracts. Perhaps if this kind of audit was carried out today then many of these procurement contracts would not be in the mess that many of them have been in squandering money and long over runs, that have in some cases such as Nimrod have ended up with the public seeing nothing for the billions of pounds of their money. Putting contracts out to private companies will only result in more public money going into the pockets of a few well connected people. Once again its corrupt people at the top making sure that their fingers are in the greedy pie.