Cuts Watch #26: private sector contracts under threat
The FT reports today (registration required) that the Treasury is now actively considering whether to revoke almost 100 government contracts with private sector firms as part of its review of all “state support” granted since January. Sectors which may be in the firing line include the auto industry, offshore wind and civil nuclear power. It’s possible that the decisions on these contracts could be reported as soon as the Emergency Budget on 22nd June. The FT also reports that the Ministry of Defence is reviewing procurement projects worth £10 billion. The report suggests this could hit both UK and overseas firms.