A recent article in the Times surveyed investigations made in the U.S. into the very high profit levels of the armaments industry. A congressional report revealed that over a l0O-year period, the profits of one company averaged 74.38% before tares, and that the objections by a government auditor to exorbitant profits of another company were ignored by two Air Force Boards, The report of a Senate Government Operations Committee on the profits in the missile procurement programme contains many facts and figures. It refers to the cstablished practice of fixing fees on the basis of total casts even though as much as T5% may be subcontracted, It found that one sub-contractor for the Aja-Nike missile programme made a profit of more than £428,000 when his total certified costs were about £1,070.
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