Boycott this mean Treasury National Savings ISA account that is slashing interest rates for pensioners and the poor

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HM Treasury: Slashing your savings in National Savings

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Over a month ago bank rate rose for only the second time in a decade – promising a bit more money for people who have savings and are seeing their money eroded by inflation.

They would probably hope to get an extra paltry 0.25 per cent interest on their already diminishing  savings – lucky to get just over one per cent on an instant access cash ISA when inflation is running at 2.7 per cent.

However the well paid top mandarins and ministers at the Treasury and National Savings ( their chief exec, ex Barclays banker Ian Ackerley is on a pittance of £185,000 a year plus an annual £69,000 payment into his pension) had other ideas. Why not use the cover of the bank rate rise to slash the interest we already pay out to people who use National Savings as a safe haven but need to access money to meet unexpected bills for a broken boiler or fridge. Everybody will think interest rates will go up, they wouldn’t think anyone would slash them now

So in July when both the Treasury and National Savings knew a bank rate rise was imminent they agreed not to put up the rate of their cash isa but CUT it by 0.25 per cent to just 0.75 per cent. It was though Mark Carney, the governor of the Bank of England was about to announce a bank rate cut not a bank rate rise.

Today the new cut came into effect – just at the point when other banks and building societies are putting their rates on equivalent cash isas UP.

You would think from the blurb on their website that National Savings would do the opposite. Their comment on interest rate changes reads:

 “Can NS&I change the interest rate?

Yes – the rate is variable so we can change it up or down from time to time, for example when the Bank of England base rate changes or when rates in the general savings market change. See the customer agreement (terms and conditions) for more details.”

So we know now  in this case when the bank interest rate goes UP,  the National Savings rate will go DOWN.

And as for other providers- Metro Bank for example, has an equivalent instant access cash isa which was paying less than National Savings at 0.75 per cent. But since the bank rate rise it is now paying more. Its new rate is 0.90 per cent -UP 0.15 per cent while National Savings are DOWN 0.25 per cent to 0.75 per cent. Which Money? has other recommended providers paying more.

So what’s their explanation?

A spokesperson said today :”The decision to reduce the interest rate on Direct ISA was taken in order to deliver positive value for taxpayers. NS&I sets its interest rates to balance the interests of its savers, taxpayers and the stability of the broader financial services sector.

“In order to take this decision, we made a proposal to HM Treasury which was approved. We review the rates on all of our products regularly and recommend changes to HM Treasury when we believe they are appropriate, to ensure that we continue to balance the interests of our savers, taxpayers and the stability of the broader financial services sector.

“We announced the change on 16 July 2018. It is NS&I policy to give customers at least two months’ notice of any detrimental variable rate change on our variable rate accounts, so the rate change will be effective from today, 24 September 2018.”

So basically National Savings are paying lower rates to small savers ( the maximum you can put in the isa is £20,000, the minimum £1) to make sure high rate taxpayers are not having to bear such a burden to fund other public services. No doubt it is linked to the Treasury regretting it has to pay people’s pensions anyway.

 My view is the National Savings Direct ISA should be boycotted because the people who run it appear to  have the Treasury’s interests than yours at heart. The decision also helps other big banks not to increase rates if the state rival is cutting rates – and will boost profits for the major banks.

I took all my money out of this particular National Savings account today. I would not blame other people doing the same – now you can get higher isa rates elsewhere. Your only restriction is that if took out an isa this financial year ( from April) you can’t take out another tax free cash account. But if you did it last year you can and should – rather than leave the Treasury to profit from you.

 

 

 

Why these liars, cheats and fraudsters should be prosecuted for ripping off taxpayers and cheating London’s firefighters

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John Shannon , former chief executive of Assetco. now exposed as a liar and fraudster, banned for 16 years from practising as an accountant and ordered to pay £550,00 in fines and costs

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This month one of the most devastating reports into a privatisation rip off was published by the Financial Reporting Council, which regulates chartered accountants. It involves a saga much reported on this blog, the failed privatisation of London and Lincoln’s  fire engines, handed over to what are now revealed to be liars and fraudsters who ran Assetco at the time.

The three top directors, chief executive, John Shannon; chief financial officer, Frank Flynn; and group financial controller, Matt Boyle, could not even be bothered to attend a tribunal hearing to defend themselves against 27 allegations of misconduct. Shannon and Boyle are thought to be somewhere in South East Asia Flynn is in Northern Ireland

Between them they lied and hid millions of pounds ripped off from income paid by London fire brigade – the London Fire and Emergency Planning Authority – through a string of Northern Ireland companies and a consultancy to Abu Dhabi and falsified invoices from the London authority to boost the income of Assetco  duping shareholders so  they could live on the hog with large salaries.

The worst culprit was John Shannon  who has been banned as practising as a chartered accountant  for 16 years – a new British record – fined £250,000 and ordered to pay £300,000 in costs. This was the same man who wined and dined the now disgraced former Tory chair of the London fire authority, Brian Coleman, while simultaneously ripping off the authority for personal gain.

His story included in a damning  FRC report  is a trail of dishonesty and improper financial gain for himself and his family, His first act  in 2008 was to take £1.5 million out of Assetco, ostensibly to invest in a Northern Ireland property company, Jaras Property Development. In fact the report found  the money was transferred almost immediately from the company to Mr Shannon’s personal bank account to pay off a loan.

To compound his action when Assetco’s accounts were prepared for 2010 he created a false invoice and lied about the use of the money to fellow directors and the auditors, Grant Thornton.

The second dishonest act involved Assetco’s take over of Graphic, a company that provided lettering for vehicles, in 2010. Mr Shannon claimed he was owed £685,000 by the company. No documentation was ever found to prove the debt but the money taken from Assetco was the exact same money owed by this son, Joel, to clear a debt with another business he was running. The report concludes this was a sham.

He then moved to fiddle the accounts of another Assetco business, Assetco Abu Dhabi, which was launched with a  £15m share issue. Included in the costs was a management fee to a firm called XYZ2 for £900,000. In fact there were no management services provided by this company, instead the money was used to pay off  interest owed.

Earlier Mr Shannon and his fellow directors Frank Flynn and Matt Boyle inflated the goodwill value of three other companies,UV Modular Limited (“UVM”), The Vehicle Application Centre Limited (“TVAC”) and Simentra Limited (“Simentra”). All three had been bought by Assetco and had huge operating losses, all became insolvent, yet between them they were valued at over £15m.

UVM which built ambulances and mobility vehicles for the NHS was ” in a parlous financial condition ” and collapsed. It got contracts from the NHS by offering cheap deals which meant it lost money.

TVAC built chassis and fire appliances was acquired in 2007 and went bust in 2008 and was an operational disaster. But it was obviously intended to service fire engines for London.

Simentra had just three staff and was supposed to provide management advice for emergency services.

The report found Mr Shannon was well aware of this yet  allowed the £15m for goodwill to be included as an asset in the company’s accounts.

Mr Shannon, Mr Flynn and Mr Boyle also inflated income from the London fire authority on purchasing equipment and  providing emergency crew training. All this led to inflated accounts which Mr Shannon claimed he had not seen but the report found that he had lied to them about his knowledge of what was agreed to be published in the accounts. There is an earlier report on my blog here.

The conclusions against Mr Shannon are stark :” While there have been no actual convictions, certain of the activities contained within the allegations could be characterised as causing or facilitating fraud. The Jaras and Graphic Allegations amount to fraud on AssetCo by Mr Shannon. The XYZ Investment was also a fraud.”

The report also says the level of dishonesty even put the fire fighters  work at risk. It is as well that Assetco  operations in London and Lincolnshre went bust before the tragic Grenfell fire or their services would have only compounded the problems.

Most of the misconduct by Flynn and Boyle was to assist in covering up rather than exposing the dishonesty of Shannon.

Raymond “Frank” Flynn (former Chief Financial Officer) for  banned from practising for 14 years and Matthew Boyle (former Financial Controller) for 12 years. Additionally, £150,000 and £100,000 respectively have been imposed and they share paying  part of the £400,000 costs bill.

The Financial Reporting Council has a memorandum of understanding with the Serious Fraud Office which could launch a criminal investigation.

The SFO told me that they were aware of the case but could neither confirm nor deny whether they would take action. In my view they should pursue these people – even if they have left the country- with the aim of securing convictions so they can spend some time in British jails.

 

 

 

 

Premier Bin: Is the minimum wage hotel chain run by Whitbread millionaires and promoted by Lenny Henry going to the dump?

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The Premier Inn in Lauriston Place, Edinburgh or should I say Premier Bin

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I have stayed in a number of Premier Inns on holiday and the atmosphere has always been cheap and cheerful with an emphasis on a good night’s sleep and a good value breakfast.

That is until this year when my wife and I stayed at the Lauriston Place hotel in Edinburgh for the festival. Last year we stayed at its more centrally placed York Place hotel and found it efficient with obliging staff.

During the last 12 months what has changed? For a start there were fewer EU staff which suggests that the chain – in common with national figures released by the government – can no longer rely on people from Europe coming to work here.

Brexiteers- including Jacob Rees Mogg and Nigel Farage – say by halting low paid and unskilled immigration from the EU – British workers will benefit from higher wages and better conditions because firms will have to pay them more.

Well so far if the Premier Inn at Lauriston Place is any guide  this ain’t happening. From talking to some of the staff instead Whitbread are using recruitment problems to make staff double up and do the work of two people or give people huge work schedules which they can’t possibly do in time.

And if that fails they are starting to withdraw services to customers. For three out of five nights we were there Premier Inn stopped offering to serve anyone who wanted to dine in their hotel restuarant if you wanted  to walk in. Notices of apology – rather reminiscent of the privatised rail companies explaining poor services- were posted in lifts and at the front desk. One even included a reference to bad weather – it was raining outside.

And if you did dine there – by getting a rare booking – the menu appeared to be a wish list rather than  an accurate description of what you could eat. The restuarant had run out of rib eyed steak and chocolate puddings – rather basic fare that should not be subject to food shortages in Edinburgh.

And the cleaning was also under pressure. On one rainy day the room was not cleaned until after 4.0 pm. I found the cleaner, a middle aged woman in, I guess, her 50s, exhausted pushing a cleaning trolley in the hotel corridor.

She had five floors of bedrooms to clean and her shift which was supposed to end at 1.0 pm had taken three hours longer because of the large number of rooms (well over 100) that had to be cleaned. We took pity on her and decided our room did not need a thorough clean that day.

As for a pay rises they were out of the question. Instead the company seems to be relying on higher turnover of staff as people leave rather than paying higher wages.

And wages are low -basically the  national minimum wage of £7.83 an hour  rather than the national living wage . The figures are here on this website.

Those with higher responsibilities -like being a chief chef – get on average another 82p an hour.

Compare that with the top management of owners Whitbread. The latest remuneration report of the company shows a different picture -rather similar to the widening gap shown between bosses and workers published this month.

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Alison Brittain, millionaire chief executive of Whitbread, owners of Premier Inn. Pic credit Twitter

Alison Brittan, the  53 year old  ex banker chief executive of Whitbread, under an incentive package can get up to £3.4 million a year if she achieves her targets which include opening as many new Premier Inns as possible.

If she is a failure she still walks off with £1m a year – 20 per cent going into a pension so she’ll be able to retire in luxury  at 60 if she wants to not caring a bit that her staff will have to work until they are 67. I suspect if any of her lowly paid staff failed, they are promptly sacked.

Two years ago her minimum salary was £775,000 – so she has enjoyed a minimum of £225,000 pay rise while most of Britain’s workers have been lucky to get a one per cent increase.

She claims in an article in the Daily Mail  that she only ever stays in Premier Inns. If she does I bet her room is being cleaned while she has breakfast and if she dines there –  she has a  full choice.

I did put put questions to Premier Inn earlier this week about current wages, turnover of staff, and whether  Brexit was making  the recruitment of staff difficult but they could not be bothered to reply or acknowledge the request.

One thing is certain I won’t be staying in a Premier Inn when I go to the Lake District. Sorry Lenny.

 

 

 

 

 

 

Fight to save the iconic Gay Hussar

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Gay Hussar restuarant- a fight to save it as it is due to close June 21. Pic Credit: wikipedia

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The news today  that one of London’s iconic restuarants, the Gay Hussar, is closing on June 21  will  be a catalyst for a fight back.

The sad decision was  announced by manager John Wrobel at the end of a very convivial lunch for Old Guardian hacks last week leading to today’s  excellent article in the Observer by  Rebecca Smithers.

Some less kind might say a fitting end for us retired or semi retired reprobates. But  as she writes this has been a regular venue for Left wing plots and meetings between journos and sources. I myself  confess that the odd confidential document might have been slipped into my hands before I left  there after dining on  herrings and soured cream and crispy duck with red cabbage.

The place was also the venue for Michael Foot’s 90th birthday, a superb collection of political cartoons loaned by Martin Rowson featuring the great and not so good and it is not unknown for right wing dissenters to dine there. My previous lunch there was with an independently minded Tory peer.

The wider issue which pushed its closure is globalisation and a fierce policy of raising business rates (rents automatically seem to follow) which is leading to the disappearance of many independent businesses  and their replacement by franchised national chains.

The planned closure of the Gay Hussar follows the disappearance of the Gran Paradiso in Pimlico and Luigis in  Aldwych. And it is not a problem confined to the capital.  My local town, Berkhamsted,  has lost the House of High Tea, a popular cafe which had a eye watering selection of brews for precisely the same reason- a tripling of the rent.

The decision by its conglomerate owners Corus Hotels  appears to have taken place in Kuala Lumpur pushed by the big jump in rent  prompted by the business rate  rise.

However all is far from lost.

John Goodman, the energetic chair of the Goulash Co-operative, is riding to the rescue.

Ina an email sent out to the members of the co-operative last night ( I declare an interest I am a small investor), he says:

” At last our moment has come! The day for which we have all been waiting has unexpectedly arrived.

“We learned a few days ago that Corus, the owners of the Gay Hussar, intend to close the restaurant some time in the near future, despite still having four years to run on the lease, which is held by Corus subsidiary The Restaurant Partnership (TRP). Our understanding is the long suffering and loyal staff, who do so much to make the Gay Hussar what it is, have already met with HR managers.

“As your directors, we immediately called an emergency meeting for Monday 14th May to discuss our action and have been working on it intensively since then.

We understand that Corus/TRP has been in discussion with the landlord and has reached an arrangement for early termination of the lease. This will give the landlord vacant possession and they will therefore be looking for a new tenant.

“Two of our number, including our legal and property advisers, met the landlord’s representatives on 16 May to discuss their intentions. They told us the building was not for sale but they expressed interest in offering us a new lease to continue the operation of the Gay Hussar, albeit in an upgraded form. In such circumstances there are a huge number of questions to be answered, involving finance and the potential operation of the restaurant.”

He ends with a rallying cry:

“In due course, and if our plans make progress in the way we hope, we will re-open the Goulash Co-operative for additional and fresh investment and investors as we anticipate a good deal of interest. We would ask you to alert friends and family to join in this great venture to keep the Gay Hussar and to develop further its enormous potential.”

Let battle commence!

 

 

 

 

 

Shambolic Stansted: How you can grab duty free booze without leaving the country unchecked by short staffed customs and immigration

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stansted airport pic credit:London Stansted Airport

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Just before Stansted  was  hit by a bus fire which wrecked people’s Easter holiday flights Parliament received a damning report on the state of border controls at the airport by David Bolt, Independent Chief Inspector of Borders  and Immigration.

Rushed out with four other reports from the inspectorate at the close of Parliament it went unnoticed by mainstream media.

What it disclosed is that the airport has been at the centre of a duty free scam  under the noses of the border force enabling  UK residents to get cheap duty free fags, perfume and booze without leaving the country.

It worked like this. Buy the cheapest  air ticket from say Ryanair or Jet 2.com, get through customs and immigration control, go to duty free. Once there stock up with booze, fags, perfume. designer goods and then walk out of another exit to the baggage hall pretending you are on an incoming flight. Then leave the airport.

The scam first discovered in an earlier report in 2013 has been claimed by Stansted Airport’s management to have been stopped though inspectors are sceptical.

The report says: “Border Force and Manchester Airport Group (MAG)  (owners of Stansted) told inspectors that they had addressed this issue, and the number of such incidents had been greatly reduced. Border Force reported that “the newly created Stansted Crime Team had prioritised working with Duty Free Retail Partners as part of its routine to combat fraud and engagement with partners in this area had had demonstrable results with a number of cigarette seizures that were illicitly obtained.”

However inspectors checking arrangements last year had a different view.

It says they didn’t see any fraud but “they did witness individuals who had not travelled exiting the restricted zone via a channel marked “Returning Passengers”. A MAG employee was tasked with verifying that individuals using this channel
had not arrived from abroad (by asking to check their ticket) before allowing them to enter the baggage hall.
“There were no Border Force staff in the “Returning Passengers” channel, and the MAG employee did not appear to notify Border Force of individuals entering the baggage hall via this route. Inspectors did not observe any customs checking of these individuals as they exited.”

The report also finds a whole series of discrepancies between the management of the airport and the staff views of what is really happening. Management say staff are content while staff say they have low morale.

For a start it has never had a full complement of borders force staff and over a  third of its 199 full time equivalent staff is on stand by – so called seasonal workforce (SWF)- mainly retired ex policeman- called in during peak periods which now extended to most of the time  who can only monitor e-gates and sit on the immigration desk.

“Inspectors were told that levels of experience at Stansted were “dwindling” with fewer and fewer staff with the skills required to carry out a range of duties. As a result, managers were finding rostering increasingly difficult and time-consuming. Inspectors were also told that rosters were dependent on the availability of SWF, because there were not enough permanent staff. ”
“The main complaint from frontline staff was that they were not able to access skills training,especially the nationally-managed “Core Skills” training required for different Border Force roles.

“As well as impacting morale, particularly where staff believe that Border Force has failed to deliver on promises made to them about developing them as “multi-functional officers” and providing job variety, the failure to provide skills training has created inflexibilities in terms of how staff can be deployed.

“This is inefficient and damaging to Border Force’s operational effectiveness. It therefore needs to be dealt with as a priority.”

The inspectors found safeguarding issues – particularly in checking whether 12 to 17 year olds who could use e-gates  by themselves with hardly any monitoring.

And a disastrous re-organisation and centralisation of parcels checks meant that seizures of illegal drugs  collapsed at one stage and only just recovering. “This function was centralised to the fast-parcel hub at East Midlands Airport, which now generates alerts and targets for itself and for Stansted. Staff at Stansted told inspectors that, initially, this change had resulted in a “collapse” in seizures.”

Added to that :The customs teams working with freight and fast parcels told inspectors that they were hampered by a lack of suitable detection equipment, for example to test and identify controlled substances.”

And inspectors suspect that border force people may miss people being trafficked into the UK due to shortages of skilled staff.

The report concluded that management has just ” a tick box mentality” which did not correspond with the reality on the ground.

Stansted is the nation’s fourth busiest airport. Half the people using it are British and all but 10 per cent are from the European Union. One wonders what will happen post Brexit and post a plan to double the size of the airport if it cannot cope at the moment. This is not a pretty picture of British competence.

Are Britain’s Green guardians clueless on future investments for this country post Brexit?

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Safeguarding UK green interests or clueless watchdogs?The five new trustees of the Green Purposes Company – James Curran,Trevor Hutchings, Tushita Ranchan,Robin (Lord) Teverson and Peter Young. Pic Credit: Green Purposes Company

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At the end of last year this blog published a highly critical piece on the sale of the Green Investment Bank which brought a  mint of money for the City and uncertainty for those who want to see a carbon free future.

The  blog was based on the findings of the National Audit Office report into the sale which showed the taxpayer had lost out yet again and the biggest beneficiary was the  Aussie private equity investment bank Macquarie for £1.6 billion  which had a bad rating on green issues and its subsidiary Thames Water is better known for polluting the Thames and failing to repair  burst water mains.

As reported before  business secretary Greg Clark let the bank get away with a non binding public statement to finance green projects for the next three years and instead set up a trust – the Green Purposes Company  -which could shame the new owners if they fail to keep to their pledge.  In theory they have powers to prevent changes to GIB’s green purposes, but this does not extend to control of, or input to, investment decisions.

The five trustees are independently appointed and include James Curran, former chief executive of the Scottish Environmental Protection Agency: Lord Teverson, a former Liberal Democrat energy spokesman and Peter Young, an environmental management consultants But they are not paid to monitor such a big private equity company .

Hardly surprising the Commons Public Accounts committee has backed the scepticism of the National Audit Office. In a report  it condemned the way it was sold

Sir Geoffrey Clifton-Brown MP, Committee Deputy Chair said:

” The manner in which it was sold off is therefore deeply regrettable. Government did not carry out a full assessment of the Bank’s impact before deciding to sell, nor did it secure adequate assurance over the Bank’s future role.

This was a UK initiative but the rebranded Green Investment Group is not bound to invest in the UK’s energy policy at all, nor to invest in the kind of technologies that support its climate objectives.”

But since the sale there has been worse  disclosures.

Mps on the environment audit committee decided to grill two of the trustees, Peter Young and Lord Teveson, and the head of the company, Edward Northam. They were equally sceptical.

Here is an extract of some of the trustees response ( or lack of) to MPs written   questions.

5. How will leaving the EU affect the UK’s ability to leverage investment into low-carbon and environmentally friendly projects in the UK?
No response
6. What options are there for the UK’s future relationship with the European Investment Bank? What would be the implications for green investment in the UK?
No response
7. Given the work being carried out by the EU’s High Level Expert Group on Sustainable Finance,where should the UK’s newly created Green Finance Taskforce concentrate its efforts?
No response

At the oral hearing both the head of the company and the two trustees were closely questioned by the chair, Mary Creagh; Green MP Caroline Lucas; Tory MP. Zac Goldsmith among others and they did not seem impressed. They were offered excuses why the new Aussie owners had hardly invested in any new projects and until the company revealed that the trustees have a budget of £100,000 a year ( small feed for a multi billion pound company) to monitor developments by the company head, were even reticent to discuss that.

You can get the text of the  full hearing or watch it here.

It is hardly an impressive performance and seems to suggest the first fears expressed on this blog are well justified. The government has dumped Britain’s green investment future and it will be interesting to see if the trustees really do have any teeth to do much about it.

 

Gove takes the lead in a Whitehall Brexit spending spree to bypass Parliament

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Michael Gove – top of the great Brexit spenders- and first to use a dodge to bypass Parliament.

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The government is planning a Brexit spending spree  this year without any say by Parliament.

Hundreds of millions of pounds of taxpayer’s money will be spent  setting up   bodies  to replace work done by the European Union some using a Whitehall  wheeze devised by a Treasury mandarin to get round  scrutiny by MPs.

Michael Gove, the environment secretary, is poised to be the first to use the new  system to allow ministers to spend large sums of money on Brexit without the approval of Parliament.

Very simply the dodge involves turning on its head a procedure called an accounting direction – normally used  when a senior mandarin -wants to challenge spending by a minister as illegal or questionable. It was most famously used when a senior civil servant questioned aid to pay for  Malaysia’s Pergau Dam – when he discovered the money was being authorised by Margaret Thatcher as part of a secret defence deal. It was also used to question extra costs on the Millennium Dome under Tony Blair. More recently a civil servants challenged the government paying for a survey requested by a UKIP council in Kent.

Now Whitehall mandarin Richard Brown has devised a scheme which will allow ministers to get round Parliament by using the same procedure to spend money on Brexit without waiting for legislation to be passed by Parliament. The letter is here. 

It has been sent to 25 ministerial departments, 20 non ministerial departments and over 300 agencies.

It followed a letter from the Treasury and the Department of Exiting the EU which also allowed ministries to raid the contingencies fund without waiting for laws to be passed.

Both senior civil servants are claiming that the requests for extra cash will be known to Parliament as they have informed the chairs pf the public accounts committee and the public administration committee. Some people might think that in all the huge coverage of Brexit they might be overlooked.

Today  Civil Service World reports that a massive £245million has been routed by a supplementary estimate to spend money on Brexit with Michael Gove’s Defra department taking the lion’s share of £67m closely followed by HM Revenue and Customs with £47m and £42m for the Home Office to work out a new immigration system.

On top the permanent secretary of Defra, Clare Moriarty, has asked Michael Gove to approve £16m of cash for a whole series of projects without waiting for legislation.

These are:

The new national import control system for animals, animal products and high risk food and feed. Scheduled to commence building: mid-January 2018. Estimated cost before Royal Assent: £7m.
– Delivery of new IT capability to enable registration and regulation of chemical substances placed on the UK market. Scheduled to commence building: February 2018. Estimated cost before Royal Assent: £5.8m.
– Delivery of systems for the licensing and marketing of veterinary medicines. Scheduled to commence building: end-January 2018. Estimated cost before Royal Assent: £1.6m.
– Development of a new catch certificate system for UK fish and fish products being exported to the EU on Exit. Scheduled to commence: building end-January 2018. Estimated cost before Royal Assent: £1.0m.
– Development of a UK system to manage the quota of fluorinated gases and ozone depleting substances required under the UN Montreal Protocol. Scheduled to commence: March 2018. Estimated cost before Royal Assent: £0.5m.
– Development of data exchange arrangements to identify the movement of EU and third country vessels in UK waters and the movement of UK vessels in EU or third country waters. Scheduled to commence: April 2018. Estimated cost before Royal Assent: £0.1m

This gives a small glimpse of how complicated the change will be. One mistake and Britain could be thrown into chaos as it has relied on the EU for authorisation and will have to sign up for everything again , including international conventions.

Imagine what would happen if there are errors in the licensing of veterinary medicines for example. It could mean that it will be illegal for your pet to get the proper medicine from the vets.

Also it reveals that large sums of taxpayers money are going to have to go on new bureaucracies to administer all this.  So where will be the Brexit dividend?

And all this is being pushed  out ” under the counter” by mandarins and ministers. If the coverage of errors and waste endemic in Whitehall are anything to go by, Britain could easily face total chaos after 2019. It’s going to be a hell raising time as we leave the EU.