raveydavey
Lucas Radebe
Joined: 12 May 2007
Posts: 2245
Location: Leeds Yorkshire England
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 Posted: Thu Apr 17, 2008 6:06 pm Post subject: OFT: Building firms 'rigged contracts' |
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http://news.bbc.co.uk/1/hi/business/7351867.stm
The Office of Fair Trading (OFT) has accused 112 construction companies of rigging bids for contracts.
It said the firms colluded among themselves while bidding for contracts, leading to customers, such as local authorities, having to pay too much.
The regulator added that in a few cases firms entered into agreements whereby the successful tenderer would pay a sum of money to those that lost out.
It said 40 firms had admitted price fixing, and 37 had asked for leniency.
The cartel practice involved the use of false invoices.
Construction giants Balfour Beatty and Carillion are among those the OFT accuses of taking part.
"Cartel activity of the type alleged today harms the economy by distorting competition and keeping prices artificially high," said OFT chief executive John Fingleton. The article goes on, click the link above.
So, how good a deal were all those PFI schools, hospitals and other public projects funded by us taxpayers? If we've been ripped off, the boards of these firms should be thrown in jail and every single penny should be paid back, plus interest.
Carillion are the muppets who got the contract to refurbish my neighbourhood - and I'm sure you can all remember what a good job they did... |
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