The Justice Secretary has asked the Serious Fraud Office to investigate G4S over its electronic tagging contract after auditors found the security firm and another company had overcharged the Ministry of Justice by "tens of millions of pounds".
Business Secretary Vince Cable said "certainly something bad happened here" after the Serious Fraud Office was urged to investigate G4S following its refusal to co-operate with the Government over the tagging contract scandal.
Mr Cable told BBC Radio 4's Today programme, "The Government has been looking very carefully at how it gets value for money and has judged that there is some overcharging taking place and we are trying to get down to competitive costs".
He said his Business Department was reviewing the contracts it has with private companies - including G4S and Serco - to deliver public services.
Asked whether the scandal casts doubt over the notion of contracting out state activities to private providers, Mr Cable said, "There are lots of success stories that you don't hear about, but where there is bad practice and lack of care then obviously we've got to tighten up".
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.