Treasury’s £150m bill for bailout experts
Consultants were paid £150million by the Treasury for advice during the banking crisis a new report is expected to show. The report to be published on Friday follows a National Audit Office inquiry and reveals how the Treasury paid top dollar for external assistance. And guess who did rather well out of the panic? According to the Mail, one of the main beneficiaries was investment bank Goldman Sachs, which was criticised in a previous NAO report for effectively pulling the wool over …
Consultants were paid £150million by the Treasury for advice during the banking crisis a new report is expected to show.
The report to be published on Friday follows a National Audit Office inquiry and reveals how the Treasury paid top dollar for external assistance.
And guess who did rather well out of the panic?
According to the Mail, one of the main beneficiaries was investment bank Goldman Sachs, which was criticised in a previous NAO report for effectively pulling the wool over the Treasury’s eyes. The finance watchdog is expected to lambast the £150million outlay, saying Whitehall should have used in-house experts to do the work instead of outsiders.
That probably won’t help Goldmans with its recent PR offensive.
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