The new Treasury team has apparently found ample opportunity for making saving in public expenditure. This comes as no surprise to those of us who have observed the growing gravy train in recent years.
However, profligacy is not the whole story. Some areas of government do operate efficiently.
Quangos are clearly one of the problem areas. The Regional Development Agencies, for instance, have evolved an oligarchic relationship with certain sections of the business community in areas like the West Midlands.
As a former minister for this region, the previous Chief Secretary to the Treasury, Liam Byrne, was an important contributor to such collusion.
We should not be surprised, therefore, that his administration should have left the coffers empty.
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