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Europe’s attempted bonfire of red tape is impressing no one (www.economist.com)
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[-] [email protected] 6 points 1 day ago* (last edited 1 day ago)

Daily reminder that Paul Deighton is the chairman of The Economist.

https://www.economistgroup.com/esg/board

This individual has stolen millions of pounds from taxpayers through PPE fraud.

From the New York Times:

Waste, Negligence and Cronyism: Inside Britain’s Pandemic Spending

To shine a light on one of the greatest spending sprees in Britain’s postwar era, The New York Times analyzed a large segment of it, the roughly 1,200 central government contracts that have been made public, together worth nearly $22 billion. Of that, about $11 billion went to companies either run by friends and associates of politicians in the Conservative Party, or with no prior experience or a history of controversy. Meanwhile, smaller firms without political clout got nowhere.

The procurement system was cobbled together during a meeting of anxious bureaucrats in late March, and a wealthy former investment banker and Conservative Party grandee, Paul Deighton, who sits in the House of Lords, was later tapped to act as the government’s czar for personal protective equipment.

Lord Deighton helped the government award billions of dollars in contracts –– including hundreds of millions to several companies where he has financial interests or personal connections.

Dozens of companies that won a total of $3.6 billion in contracts had poor credit, and several had declared assets of just $2 or $3 each. Others had histories of fraud, human rights abuses, tax evasion or other serious controversies. A few were set up on the spur of the moment or had no relevant experience — and still won contracts.

Lord Deighton, who was once a Goldman Sachs executive, remains involved in business and has financial or personal connections to at least seven companies that were awarded lucrative government contracts totalling nearly $300 million, the Times has learned.

Many companies and business people, often better qualified to produce P.P.E. but lacking political connections, had no access.

https://www.nytimes.com/interactive/2020/12/17/world/europe/britain-covid-contracts.html

Why is he still chairman of The Economist?

this post was submitted on 30 May 2025
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