Just how will the DfT spin its way out of the IEP debacle?

On paper it looks like a pretty good deal, but it has quickly descended into something worthy of an episode of Yes Minister. The award of the long awaited Intercity Express Programme contract to Agility Trains, a consortium made up of Japanese train manufacturer Hitachi, John Laing and banking group Barclays, would finally allow the withdrawal of the ageing High Speed Train fleet on the East Coast and Great Western main lines and speed up journey times.

It also promised the chance to tap into...