This morning I heard the BBC this morning desperately spinning that a UK consortium had won a £7.5 billion order for trains for the East Coast mainline.
It turns out that the UK consortium members are Barclays (finance)and Laing (building the depots) but the trains come from Hitachi and are as Japanese as sake.
The losing bidder was a combination of, amongst others, Siemens and Bombardier, who run the only UK train factory at Derby (the old BREL works, later ABB, then Adtranz).
The FT puts a different gloss on the story.
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