Taxpayers’ money was “squandered on a reckless and foolish scale” in the nationalisation of Ferguson Marine, Jim McColl has claimed.

The billionaire has been locked in a war of words with the Scottish Government as MSPs probe the decision to take the troubled shipyard into public hands in 2019.

First Minister Nicola Sturgeon gave evidence at Holyrood’s Public Audit Committee earlier this month.

She told MSPs that she “categorically” rejected the suggestion that there was anything “untoward” in the procurement process for the vessels.

The SNP leader also stated her belief that the decision taken was a “reasonable” one, given what was known at the time.

In written evidence submitted to the committee, McColl suggested that the Scottish Government could have saved “at least” £200m if it had taken legal advice in the procurement process.

“It does not appear that the Government ‘rigorously assessed’ the proposal,” McColl wrote.

Want to see more SNP fails? – Education Matters