Carrier jet accounting errors cost £74m
Plans to change the fighter planes on new aircraft carriers wasted up to £74m through “basic accounting errors”, MPs have claimed in a new report.
MPs on the Public Accounts Committee said estimates were rushed through and based on wrong costings, not taking into account increases in inflation or VAT.
Margaret Hodge, chairman of the PAC, said: “The MoD has admitted that the 2010 decision was based on deeply flawed information. Officials also made incredibly basic errors such as forgetting to include the costs of VAT and inflation.
“This about turn, which will cost the taxpayer at least £74 million, is the latest in a saga that has seen billions of pounds of taxpayers’ money down the drain.”
The cost of converting the carriers for new aircraft is expected to be up to...