Luxury Government jet sold for €420k now worth €5m

A luxury government jet sold to a US firm two years ago for less than €420,000 is now insured for $5m (€4.7m) and has recently flown from New York to Paris and Barbados.

The disclosures came at a public accounts committee hearing yesterday, amid continuing concerns the taxpayer needlessly lost out when the plane was sold in January 2015.