The Prisoner
Member
- Joined
- 22 Aug 2012
- Messages
- 421
Apologies if this has been posted already. Guardian no great lover of Branson, but even they smell a rat. This will end up in court no doubt judging by the last debacle....
https://www.theguardian.com/busines...aves-behind-a-muddle-over-pension-liabilities
https://www.theguardian.com/busines...aves-behind-a-muddle-over-pension-liabilities
...the tale of how Stagecoach and Virgin were disqualified from three UK franchise competitions this week continues to intrigue, not least because the rail minister, Andrew Jones, gave shockingly vague answers when questioned in the Commons on Thursday.
Did the government change the rules on pension liabilities in the middle of the competition? Were operators told they would have to accept big pension risks that were previously assumed to be underwritten by the state?
Jones said the answer was no in both cases, but that prompts the question asked by the former Tory transport secretary Sir Patrick McLoughlin: if Stagecoach was always unwilling to accept the supposedly well-defined pension liabilities, why was it disqualified at the end of a lengthy process and not at the beginning? It makes no sense.
The questions continue...
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