WHO would put more than £50 million into a high-risk enterprise and be unable to produce the business plan on which that investment was made? A philanthropist with more money than sense? Or simply the Scottish Government. The business in question was BiFab, now in administration. The dismal story of how public money was squandered with hundreds of jobs lost is revealed in a diligent report produced by Holyrood’s Economy, Energy and Fair Work Committee. For anyone interested in what passes for “Scottish industrial policy”, it is worth a read. Most of the focus has been on the Fife yards, at Burntisland and Methil, which now await the administrator’s verdict on their fate. One does not get the impression of a long queue forming. From where I sit, there is deep concern about the future of the Arnish yard on Lewis, an orphan in the storm, which became part of BiFab in 2009 and has never recovered.