Thursday, 26 March 2009

HMRC Drops Bank of England

The Daily Telegraph reports that HMRC is having to change its banking arrangements.

"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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