12 July 2007

£23 billion of government over-runs

Developing... more tomorrow.

Friday Update

Based on analysis of official records for 300 public sector projects completed since 2005 or ongoing, the Taxpayer's Alliance have calculated a running total of £23 billion in cost overruns. I make that £75 million per project and close to a grand per household. A most horrendous case is a freaking Art Gallery in Sandwell which is £30 million over budget!

The surveyed sample only scratches the surface of a certain type of government waste and inefficiency.

Nevertheless it's about the same amount as the latest estimates for annual Czech government revenues. Pitiful.

8 comments:

Tuscan Tony said...

PT I can't bear these stories any more, it was all I could do to open the link.

Anonymous said...

Do you still look like Ivor Biggun?

Ed said...

Thing is, it's easy to waste other people's money. Socialists also think that public money comes from heaven and that spending a means and an end itself, so they will see cost overruns as a good thing.

CityUnslicker said...

well put. I hope CCHQ take notice. There is so much waste and this is the key to rationalising our government and headint back towards a lower tax economy,

Mark Wadsworth said...

Ed - Socialists don't believe that money comes from Heaven (they're athesists), they believe that money comes from greedy grabbing rich nasty capitalists.

Rachel Joyce said...

Frightening statistics. Thanks for publicising.

Ed said...

Mark - ok but they do think that there is an unlimited supply of money waiting to be confiscated. The genius of the Brown years has been that most of the money lavished on the poor has come from the poor themselves.

mutleythedog said...

"Money lavished on the poor"? Mostly low paid jobs are not worth taking...