Logica latest to sign up to Government ‘cost savings’

Now this is a little different in tone to the two that have gone before (Atos and Cap Gemini), in that Logica have said that they have offered "efficiency savings" to Government as part of the recent negotiations.  But they comment that: "The savings agreed were anticipated in our forecasts and therefore our expectations as set out in our interim announcement remain unchanged".

So while we might still feel that this still makes it impossible to assess as a neutral outsider just how much has been given up by the firm, it is arguably a little more encouraging for the taxpayer than the Atos share price shooting up post their MOU announcement.  But still no projects actually stopped, which seems genuinely surprising.  Or perhaps this is a self selecting group who are announcing now?  Perhaps news of firms whose projects will be halted is being saved for the Spending Review announcements on October 20th?

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