• Billions of taxpayers' money has been wasted in bad deals. The London Underground modernisation, personally negotiated by one of Gordon Brown's team, was a disaster, as the National Audit Office has confirmed.

    Vince Cable: Billions of taxpayers' money has been wasted in bad deals. The London Underground modernisation, personally negotiated by one of Gordon Brown's team, was a disaster, as the National Audit Office has confirmed.
    Vincent Cable's speech to the Lib Dem conference, www.theguardian.com. September 20, 2005.