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MERSEYSIDE AGENCY CRITICISED BY MPs

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The House of Commons public accounts committee has criticised the Merseyside Development Corporation for paying sca...
The House of Commons public accounts committee has criticised the Merseyside Development Corporation for paying scant regard to the public interest and wasting funds, the FT reports (p9).

The corporation spent large sums of cash on the 1992 tall ships race and a financially disastrous opera to celebrate it.

The committee 'deplored and condemned the fact' that Merseyside, Britain's poorest region by EU standards, had been deprived of the much needed cash after it was wasted on the Tall Ships regatta.
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