In the Herald today:
MINISTERS have lost over £60m in public money through trying to salvage the shipyard company at the centre of Scotland’s ferry-building fiasco, the Herald on Sunday can reveal.
New financial papers have revealed that £36.1m of the £50.1m of public funds the Scottish Government has tried to reclaim after Ferguson Marine Engineering Ltd (FMEL) fell into administration in August, 2019 will not be recovered.https://www.heraldscotland.com/politics/19529636.revealed-ministers-lose-60m-public-funds-bailout-ferguson-marine/
Note the amount, note the intention to save jobs and remember the yard is still open.
Two years ago in England, note the same factors:
Labour has claimed transport secretary Chris Grayling‘s political gaffes have cost the economy and taxpayers over £2.7bn during his time in government.
The analysis comes after Downing Street was forced to declare once more that Theresa May has full confidence in Mr Grayling as it emerged the government had settled a £33m fee over the no-deal ferry contract fiasco.https://www.independent.co.uk/news/uk/politics/chris-grayling-ferry-contracts-blunders-cost-a8803296.html
So a vast sum overall, compensation paid to P&O with no return and what about jobs? See this:
P&O SEAFARERS Union RMT today reacted with fury following the release of Government contracts detailing the UK taxpayers’ support for roll-on roll-off ferry operators during the pandemic.
Critical Freight Grant payments have been allocated to operators to keep essential goods, medical and veterinary supplies coming into the country. The recipient of the highest amount is P&O Ferries who are seeking to cut 1,100 jobs on the same routes by the end of this month.
RMT general secretary Mick Cash said;
“The Government is supporting ferry companies to the tune of over £33m until mid-July. By that time, P&O Ferries will have put 1,100 workers – mostly seafarers in Dover and Hull – on the dole and working class seafarers will have been failed by this Government.https://www.rmt.org.uk/news/rmt-slams-scandal-of-taxpayer-support-for-pando-shareholders/
There you have it. The Scottish Government, with the best will, invests money to try to keep shipbuilding on the Clyde alive and to save jobs.
The Conservative Government wastes money AND the recipients sack workers before, no doubt, tucking the proceeds away in the Cayman Islands.