Pretty much sums it up.

(for non-Brit HNers not aware of the NHS-IT project reference, the not-so-thrift previous Government launched various IT projects to 'improve' the NHS, such as http://www.bbc.co.uk/news/uk-15014288 which cost £11bn, took 9+ years and was a big failure overall... mind you, they did create IT projects since they thought they sounded 'sexy' - http://www.bbc.co.uk/news/uk-politics-12905303 - so I guess it's little wonder the main NHS-IT project failed)