#project report for bank loan

[financeseva-loan-provider]

A Project Report Format

A project report serves as a snapshot of the entire project/business plan.  

Most of you may be unclear about the actual format required for a project report. The format of the project report is very simple - just explain all aspects of your business.

Creating a project report is a very difficult task for all businesspeople. A project report is also known as a business plan; is an important document when going for a bank loan.  

Typically, most of the business people or entreprenuers find it difficult to create a project report of their own, that’s why Financeseva come into the picture as you don’t need financial knowledge in creating the project report in Financeseva.  

A good Project Report should contain the following information. You can use our sample project report for having a better understanding of the format required to create a detailed project report.  

A perfect project report format consists of:

Introductory Page – This section includes the potential, need, possibility of project and fund needed, and so on.  

Scope of the project– Examine project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines

Details about the Promoters–  Under this portion, entrepreneurs need to details the information of promoters which includes their educational qualifications and work experience.

Product /services – Briefly describe about your offering whether it a product or services, how your offering will benefit to the public.  

Location details – Where you are going to start the unit, its specialty, etc

Plant & machinery details – Details of your plant and machinery used

Raw materials (if any) – Details of raw material used

Market potential and marketing strategy – How big is your market?, How you are planning to sell the product

Employees details –details of employees, their educational qualifications, work experience, etc.

Project cost – Total money (including your share) for building your project

Application of fund – How you allocate funds in your project

Means of Financing – From where you source the fund

Balance Sheet

Profit and Loss Statements

Cash Flow Statement

General Ratios

Break-Even Point Evaluations

Conclusions

Instead of creating all the details in the given project report format, you can use Financeseva as an easy way to Create the Report. Our report is approved by all banks in India.

[setupfiling]

Project Report For Bank Loan: A Comprehensive Guide

Are you looking to secure funding for your business through a bank loan? One crucial document that you will need to prepare is a project report. This report is a detailed analysis of your business plan, financial projections, and other essential information that will help the bank assess the viability of your project. In this article, we will discuss the key components of a project report for a bank loan, and provide you with tips on how to create a compelling and convincing report that will increase your chances of approval.

[shardaassociates]

Project Report For Bank Loan​

(Professional Project Report For Any Business Starts At ₹2999/-)​

You’re are getting a accurate project report that will fulfill your purpose and will be accepted by every bank & financial institutions at base price ₹2999/- only.

Project Report for Any Type Of Bank Loan​

MUDRA Loans​ : Our financial project report will assist you in achieving your aim, of obtaining the PMEGP MUDRA bank loan. We'll be directing you throughout the process.

Agriculture: Our company also provide reports on farming and related activities such as planting, dairy farming, horticulture, medicinal plants, etc.

[financesevaloan]

Project Report For Mudra Loan

For Mudra Loans, like any other business loan, requirement a project report for mudra loan which is to be submitted when applying for a loan in the Kishor or Tarun category. However, Shishu loans are the most easily accessible loans for small business owners, and banks are usually do not asked to show project reports.

A project report is an important document that contains information about the business. It also includes a comprehensive cost-benefit analysis of the proposed expenditure for which the business loan is being sought. In addition, it gives the project report for bank loans readers a detailed picture of the cost of the project, scope of activities proposed and existing, existing debt if any, revenue projections, and so on.

The project report should be complete and contain valid data to be readily accepted and approved for loan sanctioning under PMMY.

Introduction – brief Description of the business

Aim/Vision – the aim/objective of the enterprise should be mentioned

Area of Expertise – Key areas or skills on which employees have the expertise to work.

Details about the Promoters and Executive: Profile descriptions like education qualification, experience, etc.

Source of Funds: you can explain in detail how you will arrange your funds or plan to raise funds for the business, owned, borrowed, etc.

Financial Budget – Complete financial information on expenditure required like machinery cost, total cost, furniture cost, working capital required.

Financial Statements: It should the financial statements like profit & loss statement, cash flow statement, and balance sheet.

Estimation: Report should include projected estimation of sales, purchases, expenses, incomes, etc.

Business Equipment Details – Exhaustive list of equipment, parts, plants, and machinery to be used in the project

Commercial Aspects – Plans to be executed related to commercializing the project

Company Profile – Details on company’s background, launch, initiation, milestones, and achievements

Export Orders – Information on export orders, whether domestic or international, if any

Information about Employees – Total number of employees working on the project with their details

Information on Products and Services: Details of all the products and services to be used in the project

Logistics Details: Information on transportation cost to be incurred whether private or commercial

Manufacturing Processes: Details of types of manufacturing processes to be used in the project

Market Potential: Information about the target market, target customer, market demand of the product, etc.

Advertising Strategies: Advertising strategies to be applied or executed for the project

Ratio Analysis: Computation and analysis of different ratios and their implications.

Space or Land Requirement: Information on space or land requirements, if required

Details of the third party engaged with the project if any like raw material suppliers, traders, manufactures, etc.

Break-Even Analysis: Specify the break-even point of the project; its viability in terms of cost and profit.

Conclusion: All project reports should have a conclusion to their end

[pmegploan]

Best PMEGP loan : Government Support for Starting Your Own Business.

At sharda Associates The Prime Minister's Employment Generation Programme (PMEGP) is a government scheme in India that gives financial help to individuals who want to create small companies. It aims to create jobs and encourage self-employment, particularly in rural and semi-urban areas. Here's a simplified view of the scheme

What is PMEGP?

PMEGP Loan provides financial assistance to people starting new small enterprises by offering a loan with a subsidy. The Ministry of Micro, Small, and Medium Enterprises (MSME) manages it, while the Khadi and Village Industries Commission (KVIC) oversees its implementation.

Key Features:

1 Loan Amount

Manufacturing enterprises might receive up to ₹25 lakh.

Service enterprises, such as beauty salons or repair shops, can receive up to ₹10 lakh.

2 Government subsidy:

Rural areas:

25% of general category applications.

35% for special categories (such as SC/ST, women, and those from the Northeast).

Urban areas

15% for general category applications.

Special categories are eligible for 25% off.

Who can apply?

1 Eligibility:

Any Indian citizen above the age of 18.

Applicants for projects costing more than ₹10 lakh (manufacturing) or ₹5 lakh (services) must have finished 8th grade.

Self-help groups (SHGs), cooperative organizations, and charitable trusts can all apply.

2 Personal Investments:

General candidates must invest 10% of the project cost themselves.

Special category applicants must invest only 5%.

How do I apply?

1 Application Process:\

Apply online using the PMEGP portal at Official kvic Main.

Upload documents such as ID, address verification, educational certificates, and a business plan.

2 Selection and Loan approval:

A District-Level Task Force Committee will contact you to schedule an interview.

Once approved, the bank sanctions the loan and credits the government subsidy to your loan account.

3 Repayment:

The loan must be repaid within 3-7 years, however the subsidy does not have to be paid back.

4 Training:

All PMEGP grantees are required to complete a brief company management training program.

Example of How PMEGP Loans Work

Suppose you wish to start a small manufacturing plant in a rural region for ₹20 lakh.

For those in the general category, the government will provide a 25% subsidy, amounting to ₹5 lakh.

The bank offers a loan of ₹15 lakh, and you simply need to invest ₹2 lakh from your savings.

Why is PMEGP beneficial?

project report for PMEGP loan assists people in starting enterprises without the requirement for a large initial investment. This loan is ideal for young enterprises as it requires no collateral (up to ₹10 lakh) and offers long payback terms.

Summary

The PMEGP initiative is a useful approach to start a small business with government assistance, particularly if you come from a rural or underprivileged background. It encourages employment generation and economic development. For additional information, please visit the official PMEGP website or contact your nearest KVIC office.

PMEGP: Helping You Start Your Own Business with Government Support. For details and to reach us, visit https://shardaassociates.in/ contact us : 91 79870 21896 , address : HIG B-59, Sector A, Vidya Nagar, Bhopal, Madhya Pradesh 462026

[setupfilling]

If you’re looking to apply for a loan, you’ll need to prepare a  Detailed project report or DPR to submit to the lender. This report is a crucial component of the loan application process, as it provides the lender with a detailed overview of your project and your ability to repay the loan. Our Team will help you in getting Project Report for bank loan that will be accurate and will be accepted by every bank and financial institutions. Read More >> https://setupfiling.in/project-report-for-bank-loan/

[bankloan]

Bank Loan Project Report is a reliable online platform that provides a comprehensive analysis of the proposed project's feasibility, financial projections, risk assessment, and repayment plan to aid the bank in making an informed decision regarding the Bank loan application. Need help with a Bank Loan Project Report? Get started now!

[bookmarkslive]

Achieve Financial Success with Bank Loan Project Report

Introduction 

In today's competitive business environment, securing funding from banks is crucial for the success and growth of many ventures. To increase the chances of loan approval, businesses need to submit comprehensive and well-structured project reports. Bank Loan Project Report is a reliable platform that offers valuable assistance and resources in creating effective project reports. In this blog post, we will explore the features and benefits of Bank Loan Project Report and how it can help businesses achieve their financial goals.

1. Comprehensive Project Report Templates and Samples 

One of the standout features of Bank Loan Project Report is its vast collection of project report templates and samples. These resources provide businesses with a solid starting point for crafting their project reports. The templates cover various industries and sectors, ensuring that borrowers can find a relevant template that meets their specific needs. The samples serve as real-world examples, showcasing the structure, content, and formatting required for a compelling project report. By utilizing these templates and samples, borrowers can save time and effort in creating their reports and ensure that they include all the necessary elements to impress potential lenders.

2. Step-by-Step Guidance 

Bank Loan Project Report understands that creating a project report can be a complex and daunting task, especially for Personal loan, Home loan, Car loan  with limited experience. That's why the platform provides a user-friendly, step-by-step guide to help borrowers navigate the report creation process. This guidance breaks down each section of the report, offering clear instructions and explanations. From the executive summary to financial projections and risk analysis, the step-by-step guide ensures that borrowers don't miss any crucial information. It acts as a roadmap, ensuring that borrowers can confidently create a well-structured and comprehensive project report that will impress lenders.

3. Expert Advice and Review Services

For borrowers seeking professional guidance and validation, Bank Loan Project Report offers access to experienced experts who can provide personalized advice and review services. These experts have extensive knowledge and expertise in the loan application process and can offer valuable insights to borrowers. Whether it's reviewing the project report for accuracy, providing suggestions for improvement, or answering specific queries, the expert advice and review services add an extra layer of assurance to borrowers. With this support, borrowers can enhance the quality of their project reports and increase their chances of securing funding from banks.

4. Industry-Specific Reports 

Bank Loan Project Report understands that different industries have unique requirements and considerations. To cater to this diversity, the platform offers industry-specific project reports. These reports are tailored to meet the specific needs and expectations of various sectors, such as manufacturing, retail, technology, and more. Industry-specific reports consider the nuances and challenges of a particular industry, ensuring that borrowers can present a project report that aligns with industry standards and expectations. This feature is particularly valuable for businesses operating in niche industries that may have specialized reporting requirements. By utilizing industry-specific reports, borrowers can demonstrate a deep understanding of their sector and increase their credibility in the eyes of lenders.

Conclusion 

Bank Loan Project Report is a comprehensive platform that provides businesses with the tools, resources, and expertise needed to create effective bank loan project reports. With its templates, step-by-step guidance, expert advice, and industry-specific reports, businesses can confidently present their projects to potential lenders and increase their chances of securing the funding required for success and growth.

For More Information Visit: https://bankloanprojectreport.com/

[khushi001]

Bank Loan Project Report

Bank Loan Project Report is a reliable online platform that provides a comprehensive analysis of the proposed project's feasibility, financial projections, risk assessment, and repayment plan to aid the bank in making an informed decision regarding the Bank loan application. Need help with a Bank Loan Project Report? Get started now!

[rjzimmerman]

Excerpt from this Canary Media story:

The Greenhouse Gas Reduction Fund, the national green bank program created by the Inflation Reduction Act, has gotten off to a slow start — but the money has started to flow.

In April, a handful of nonprofit consortiums were selected to administer the $20 billion program. These groups face a hefty mandate: to use that federal funding to spur $150 billion or more of private-sector investment in climate and clean-energy projects, mostly for underserved communities.

But it isn’t simple to put that money to work. The projects they back must comply with the Biden administration’s Justice40 Initiative mandates, meet federal domestic-content and buy-American provisions, and follow complicated data-reporting requirements. Their loans and investments must also simultaneously reach hard-to-serve markets and earn returns that can be reinvested into future projects — while tempting private-sector investors to join in.

The complicated regulatory and financial requirements are some of the reasons why it has taken months for the consortiums to start dishing out green bank funds. But somebody eventually had to go first.

That honor goes to Climate United, the consortium in charge of nearly $7 billion in federal green bank funding, more than any other group. On Tuesday, it announced what is both its first investment and the first project financed by the Greenhouse Gas Reduction Fund: a $31.8 million loan for Scenic Hill Solar, a Little Rock, Arkansas–based solar developer.

That money will provide pre-construction financing for solar installations that will help lower the utility bills and carbon footprint of the University of Arkansas System. At 66 megawatts across 16 sites, the project will be the largest commercial solar deployment in Arkansas and the fourth-largest university renewable energy deployment in the country.

This kind of climate lending has a track record to build on. Over the past 12 years, green banks — government-backed and nonprofit entities now operating in 17 states, which provided the model for the Greenhouse Gas Reduction Fund — have enabled nearly $22 billion in public-private investment.

Even so, this proven ​“green bank” model has attracted political attacks: Republicans in Congress have accused the Biden administration of planning to use the program’s $20 billion as a ​“slush fund” to benefit favored groups. Former president Donald Trump has said he will halt federal spending for programs under the Inflation Reduction Act if elected.

[darkmaga-returns]

Pam Bondi knows where the bodies are buried and she will be in a position to do major damage as AG. Here are some of her best moments.

Pam Bondi expertly laid out how Joe and Hunter Biden were using a Ukranian Energy company as a money laundering pay-for-play scheme while Joe was Vice President. Not only this but he had Hunter Biden help siphon money out of the CCP while in China. Joe Biden was the point man in Iraq during his VP tenure and set up business deals in that exact country through his close family members. All these crimes can be found for anyone to see on Hunter Biden's laptop from hell. "As a career prosecutor and former attorney general of Florida, I fought corruption, and I know what it looks like, whether it's done by people wearing pin striped suits or orange jumpsuits. At the Democrats convention, we were told to look at Joe Biden as the model of integrity, but when you look at his forty seven year career in politics, the people who benefited are his family members, not the American people. Let's take a closer look. We all know about Joe's son Hunter Biden, a corrupt Ukrainian oligarch, who put hunter on the board of his gas company, even though he had no experience in Ukraine, or in the energy sector. None, yet he was paid millions to do nothing. He only had one qualification that mattered. He was the son of the man in charge of distributing US aid to Ukraine. And recently reported information revealed that a few months after Hunter Biden joined that corrupt company's board, the Obama Biden State Department began doing business with the home. Even when it remained under investigation for corruption. And it gets worse. That very same company was being investigated by a Ukrainian prosecutor. Joe Biden, the Vice President of the United States threatened to withhold aid to Ukraine unless that same prosecutor was fired. And then he was fired. Hunter only resigned from that board, just before his dad announced his campaign for president. Now let's talk about China. Fact. Joe Biden flew to China on Air Force Two with Hunter along for the ride. They said he was just there as a family member but we know that's untrue. In Beijing, Hunter didn't just go sightseeing. He had meetings with his Chinese bank partners. Hunter even arranged for his dad to meet with one of the partners. Ten days later, those Chinese communist bankers approved millions to go to Hunter's firm. And those bankers worked for the Chinese Communist Party. Which oppresses their people, cheated American workers for decades, and covered up a deadly virus. To this day, Hunter controls a ten percent stake in that firm. And Joe Biden's done more than look the other way on China. He said, the Chinese aren't our competition. Come on man They're not bad folks… Come on Joe. Talk to the folks in middle America. Who lost countless jobs to China while your son was getting rich with them. But there's more. Fact. There are the numerous press reports that have shown other close Biden family members benefited from Joe's forty seven year political career. Joe Biden was the point person on Iraq. The president of a construction firm met with Biden's team in the White House and then who did they hire to build thousands of houses in Iraq? Joe Biden's close family member, who you guessed it had no experience in the industry, and no experience in Iraq. A company official bragged that it helps to have a family member of the vice president and his partner…The family member put it more bluntly by saying there's a line of seven forty sevens filled with cash, ready to invest… Now let's follow the money down south. Again as reported in the press yet another close family member of Joe's, set his sights on Costa Rica and Jamaica, where millions of dollars flowed from the Obama Biden Administration in taxpayer back loans to projects linked to? Yes that same family member. These aren't isolated incidents. It is a deliberate pattern of conduct… And that's just what he did as vice president. Imagine what he'd do as President."

[setupfiling]

Project Report for Bank Loan

Get started today with a detailed project report for bank loan tailored to meet the requirements of every bank and financial institution

[shardaassociates]

PMEGP Loan Project Report

PMEGP loan project report requirements include a detailed business plan, cost estimates, market analysis, financial projections, and loan amount needed. The report helps assess eligibility for government-subsidized loans under the scheme. The Prime Minister's Employment Generation Programme (PMEGP) is a significant initiative aimed at promoting self-employment and creating sustainable job opportunities across India. To successfully apply for a PMEGP loan,

[financesevaloan]

Project Report for Bank Loan

No matter whether you are looking for a new business or a project or want to expand your existing business unit, finance is the bloodline of every business. When you have a great idea but have sufficient amount to execute it, you could look for a loan form do not bank and financial institutions. While there are several requirements to get a project report for bank loan and these requirements vary from bank to bank and depend on required loan amount and type of you are looking for, a project report is also very important document that need to be prepared for the purpose of bank loan.

Get your project report for bank loan in just three easy steps

Login Dashboard: Financeseva allows you to create a project report on your own for which you are required to sign up enquiry form and register to start the project creation process.

Create Project Report: After getting registered, you can start the process by submitting certain required documents, we will assess the documents and ask for further information to create project report best possible report.

Delivery: You can also cross-check all the details included in the report before finally generating it. Make sure all the information contained in this project is accurate and up to the mark. After your full satisfaction you can download the report by making a payment. Thereafter your detailed project report can downloaded in seconds and if required you can quote for hard copies.

Financeseva’s report is acceptable by all banks, project report for bank loan are essential to get qualify.

[pmegploan]

Project Report for bank loan

A project report is a structured document that outlines the details of a proposed or existing business, helping banks and financial institutions evaluate the business's potential. It acts as a roadmap for both the borrower and the lender, offering clarity on financial needs, operational strategies, and expected outcomes.

Sharda Associates ensures that every project report is tailored to align with the specific objectives of the client and adheres to banking norms, making the approval process smoother and faster.Key Components of a Project Report:

Business Overview: Includes the business's nature, industry background, and objectives.

Market Analysis: Details about the target market, competition, and growth potential.

Operational Plan: Explains the day-to-day operations, raw material procurement, and production or service delivery processes.

[mostlysignssomeportents]

Canada's privatised shadow civil service

PJ O’Rourke once quipped that “The Republicans are the party that says government doesn’t work and then they get elected and prove it.” But conservative parties have unlikely allies in the project to discredit public service: neoliberal “centrist” parties, like Canada’s Liberal Party.

If you’d like an essay-formatted version of this post to read or share, here’s a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/01/31/mckinsey-and-canada/#comment-dit-beltway-bandits-en-canadien

The Liberals have become embroiled in a series of scandals over the explosion of lucrative, secretive private contracts awarded to high-flying consultancy firms who charge hundreds of times more than public sector employees to do laughably bad work.

Front and centre in the scandal, is, of course, McKinsey, consligieri to opioid barons, murdering Saudi princes, and other unsavoury types. McKinsey was brought in to “consult” on strategy for the Business Development Bank of Canada (BDC), a Crown corporation that gives loans to Canadian businesses.

https://www.cbc.ca/news/politics/business-development-bank-canada-hudon-mckinsey-1.6720914

While there, McKinsey performed as per usual, veering from the farcical to the grotesquely wasteful. Most visible was the decision to spend $320,000 on a livecast fireside chat between BDC president Isabelle Hudon and a former Muchmusic VJ that was transmitted to all BDC employees, which featured Hudon and the host discussing a shopping trip they’d taken together in Paris.

Meanwhile, BDC has been hemorrhaging top people, which leaving the organisation with many holes in its leadership — the kind of thing that would pose an impediment to its lofty goals of substantially increasing the support it gives to businesses run by women, First Nations people and people of color.

Hudon — a Trudeau appointee — vowed to “start from scratch” when she took over the organisation, but then went ahead and did what her predecessors had done: hired outside consultants who billed outrageous sums to repurpose anodyne slide-decks full of useless, generic advice, or unrealistic advice that no one could turn into actual policy. They also sucked up BDC employees’ time with endless interviews.

The BDC has (reluctantly) disclosed $4.9m in contracts to McKinsey. The CBC also learned that Hudon parachuted several cronies from her previous job at Sun Life into top roles in the organisation, and that BDC had reneged on promised promotions for many long-term staffers. Hudon also repeatedly flew a chauffeur across the country from Montreal to BC to drive her around.

In Quebec, premier François Legault hired an army of McKinsey consultants at $35,000 per day to advise him on covid strategy, for a total bill of $8.6m. McKinsey’s contract with the province stipulated that they wouldn’t have to disclose their other clients, even in the event that they had conflicts of interest:

https://www.cbc.ca/news/canada/montreal/caq-legault-mckinsey-pandemic-consulting-1.6602374

The contract was kept secret, as was the long-running, $38m contract between McKinsey and the Hydro Quebec power authority:

https://ici.radio-canada.ca/nouvelle/1927738/mckinsey-hydro-quebec-consultants-barrages-affaires

Most of the bad press McKinsey gets revolves around the evil advice it gives — like when it advised opioid companies to pay cash bonuses to pharma distributors for every death-by-overdose in their territory (no, I’m not making this up):

https://pluralistic.net/2022/06/30/mckinsey-mafia/#everybody-must-get-stoned

But these rare moments of competence should be understood in the broader context in which McKinsey isn’t evil, they are merely utterly, totally fucking useless. The 2022 French Senate report on McKinsey really digs into this:

http://www.senat.fr/commission/enquete/2021_influence_des_cabinets_de_conseil_prives.html

They find that a quarter of the work McKinsey turned in was “unacceptable or barely acceptable in quality.” This is in line with the overall tenor of work performed by consultants. For example, when it came to giant Capgemini, the French Senate found that the work it provided was “of near-zero added value, indeed sometimes counterproductive.”

And yet, despite the expense and “near-zero added value,” hiring outside consultants is a reflex for neoliberal centrist leaders. Trudeau has presided over a massive expansion of the Canadian government’s reliance on outside consultants:

https://www.theglobeandmail.com/politics/article-liberals-spend-billions-more-on-outsourced-contracts-since-taking/

After campaigning on a promise to reduce outside consultancy, the Trudeau administration increased consultant spending by 40%, to $11.8 billion. This shadow civil service is not just more expensive and less competent that the real civil service — it is also far more opaque, able to fend off open records requests with vague gestures towards “trade secrecy.”

Since 2015, McKinsey has raked in $101.4m in federal contracts, even as the civil service has been starved of pay. Meanwhile, federal departments insist that they need to “protect Canada’s economic interests” by not disclosing outside contracts, and list their total spend at $0.00.

https://nationalpost.com/news/outsourcing-contracts-mckinsey-billions

The Professional Institute of the Public Service of Canada estimates that between 2011–21, the Canadian government squandered $18b on outside IT contracting that could have been performed by public servants. In 2022, the Government of Canada spent $2.3b on outsource IT contracts, while the wage bill for its own IT staff came in at $1.85b.

It’s not like these outside IT contractors are good at their jobs, either. The most notorious example is the ArriveCAN covid-tracking app for travellers, the contract for which was awarded to GCstrategies, a two-person shop in Ottawa, who promptly turned around and outsourced it to KPMG and other contractors, whom they billed to the government at $1,000–1,500/day, raking off 15–30% in commissions.

For months, the origins of the ArriveCAN app were a mystery, with the government insisting that the details of the contractors involved were “confidential.” But ArriveCAN was such a steaming pile of shit, and so many travellers (a population more likely to be well-off and politically connected than the median Canadian) had to deal with it, that eventually the truth came out.

The ArriveCAN scandal is ongoing — just last year, it cost the Canadian public $54m:

https://www.theglobeandmail.com/politics/article-arrivecan-subcontractors-multinationals/

Trudeau’s Liberals didn’t invent outsourcing high-stakes IT projects to incompetent grifters. Under Conservative PM Stephen Harper, Canada paid IBM to build Phoenix, an utterly defective payroll system for federal employees that stole millions from civil servants, bringing government to a virtual standstill. Thus far, the Government of Canada — which paid IBM $309m to develop Phoenix, as a “cost savings measure” — has paid $506m in damages to make good on Phoenix’s errors:

https://www.theglobeandmail.com/politics/article-ottawa-paid-out-400-million-in-phoenix-pay-compensation-to-federal/

The Liberals didn’t invent Phoenix — but they did deploy it, after campaigning on the wastefulness and incompetence of the Tories’ outsourcing bonanza. And after Phoenix crashed and burned, the Liberals increased outsourcing spending.

All of this is well-crystallized in last week’s Canadaland discussion between Jesse Brown and Nora Loreto:

https://www.canadaland.com/podcast/853-the-indulgent-consultant/

And on his Substack, Paul Wells proposes that the Senate — a largely ornamental institution in Canadian politics — is the unlikely check of last resort on the Liberals’ fetish for outsourcing:

There are former deputy ministers at the federal and provincial levels, secretaries to cabinet, a former Clerk of the Privy Council, a former chief of staff to a prime minister. A lot of them can remember the days when big decisions weren’t farmed out to firms that make their founders rich and are spared the rigours of accountability for their counsel. Surely some of them would like to shine a light?

https://paulwells.substack.com/p/shine-a-brighter-light-on-contract?

Image: Sam (modified) https://commons.wikimedia.org/wiki/File:The_Canadian_House_of_Commons.jpg

Presidencia de la República Mexicana (modified) https://commons.wikimedia.org/wiki/File:Justin_Trudeau_June_2016.jpg

CC BY 2.0 https://creativecommons.org/licenses/by/2.0/deed.en

[Image ID: The legislative chamber of Canada's House of Commons; behind the speaker's chair, the back wall has been replaced by an enormous $100 bill. The portrait on the $100 bill has been replaced with an unflattering, braying picture of Justin Trudeau. The Bank of Canada legend across the top of the note has been replaced by the McKinsey and Company wordmark.]