In case you were wondering how much administrators cost, it is apparently around 750 quid per person per hour (that's their fee, rather than the amount the individuals are actually paid). And there are 45 of them administering Metronet. So, assuming they are on, say, a 35-hour week, that's over a million quid a week being trousered by Metronet's administrators, Ernst & Young.
That'll be the same Ernst & Young which helped draw up the PPP contracts to start with - an exercise that cost the public purse an obscene 550 million, of which Ernst & Young's share was around 50 mil.
So how's about that for a nice little earner? Get paid a fortune to write a document, then when it all goes pear-shaped, get paid another fortune to clear up your own mess.
And to think ... Some people reckon that capitalism is an efficient system and that socialism would waste resources on bureaucracy. We think not.
