The problem with this is that there isn't a lack of taxes being paid, or money spent.
The problem is merely that the people in charge wish to spend the money on vote buying or big impressive projects to get promotions. They start said big project, realise they have ignored every bit of best practice and basic procedure out there and then get promoted out of that position before the entire mess falls apart under the weight of it's own mismanagement.
The solution is to promote people on merit, ie. actually delivering completed and usable projects rather than for brownnosing skills. We might then see a reduction in multi billion pound projects failing.