"The Bank of England made a strategic decision in 2004 to withdraw from the provision of retail banking and clearing services to Government................As a result HMRC had to find new banking suppliers and following a full procurement exercise contracts were awarded to the Royal Bank of Scotland and Citi in March 2008."
Whaaat? Whoooo?
So a 'full procurement exercise' results in the contract going to a bank that, basically, went bust and is now owned by the government.
What is that I can smell?
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