22/11/2007

Qinetiq slammed

qinetiq report is Labour's a 'financial time bomb'Telegraph.co.uk, By Russell Hotten The Government faces further embarrassment with the imminent publication of what is expected to be a damning report into the Treasury's ...

Qinetiq Q-branch and Area 51 tech sell-off due a roasting Register, By Lewis Page → More by this author A long-anticipated report by the National Audit Office (NAO) into the privatisation of defence-tech research company ...

Brown defends sale of mod research bodyTelegraph.co.uk, United Kingdom - By Brendan Carlin, Political Correspondent Gordon Brown has been forced to defend the controversial sell-off of a Ministry of Defence research body which ...

Primeministers questions 21 Nov 2007
Dr. Cable: May I point the Prime Minister to the next Treasury disaster, with the imminent publication of the report on the privatisation of QinetiQ, which I warned about in the debate 18 months ago? Was the Prime Minister not financially very naive when he agreed to the undervaluation of public assets, enabling an American private equity company to make a windfall profit of £300 million and the chief civil servant involved to make a personal fortune of £22 million?

The Prime Minister: It is very interesting that the hon. Gentleman has not moved to talk about Northern Rock again. I suppose that he is now supporting us in rescuing Northern Rock. I hope that that is a consensus.
As far as QinetiQ is concerned, we raised £800 million from the sale. QinetiQ is serving its country under its new ownership and QinetiQ is very important to the Ministry of Defence’s future procurement plans.

Auditors condemn rushed mod sale that turned civil servants into ...Guardian 20 Nov 2007
The Ministry of Defence will be severely criticised by the National Audit Office this week for allowing two senior civil servants to become ...

Defence ministry under fire for research unit’s sell-offGulf Times, Qatar - Military chiefs are to be criticised for the partial sell-off of a defence research group which allowed two civil servants to become millionaires, ...

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