Bumbling security firm G4S has failed to get its contract to run the Wolds prison in East Yorkshire renewed, with the Ministry of Justice deciding it's best to bring it back to public ownership rather than keep it in private hands.

Prisons minister Jeremy Wright denied the decision had anything to do with the security firm's high-profile botching of Olympic security, telling the BBC: "We've assessed all of these bids on their merits and not on the basis of who is making the bid. This is a consideration we've made entirely aside from what happened to G4S at the Olympics."

G4S has been running the prison since it opened in 1992. Inspectors weren't impressed by its recent performance, citing the easy "availability of drugs" and a lack of work and training provision as reasons to pull the chain on G4S's tenure. The move ought to save us put upon taxpayers around £430m over the next six years. [Metro]

Image credit: Prison from Shutterstock