Labour's financial trains = redundancy

So the truth will out. The bid requirements for the new trains which brought Siemens (Germany) in competition with Bombardier (UK) were formulated by the last Labour government. As yet another example of them trying to hide their excessive borrowing and the consequent debt of the public accounts, they included in the bid the need that the successful company would have to raise the capital needed. (A kind of PFI).

But the rating agencies rate Siemens as an A+ and Bombardier as a BB+. The consequence of this is that Bombardier have to pay 1.5% more for borrowed capital than Siemens.

And so they could not offer the better or even equal quote and lost the business.

Add this to the stupidity of not including in the bid requirements things like servicing, better done by a local company, and socio-economic costs, or redundancies... and you see why this was such a BAD bid requirement.

All to be laid at the door of the last Labour government. So if you are now out of a job, blame Labour. But will they or do they show any remorse and apology? No they try to blame the Coalition!!!