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£16 MILLION ON ROVER REPORT - BUT STILL NO ANSWERS

27-06-2009

MG Longbridge

The long awaited report into the collapse of MG Rover has finally submitted to the government - four years after the company went under. It cost taxpayers almost £16million, but we still don't know what it says.

Northfield MP Richard Burden winkled out the information in a parliamentary question. Business Minister Ian Lucas revealed that independent inspectors appointed after the demise of the Longbridge car firm handed in their report almost a fortnight ago in June 11.

Lucas said the full fee was £15,922,000 and commented, "The Inquiry was complex but the cost has been very high. The Government will carefully consider the approach to any future exercises of this sort with a view to minimising expense to the taxpayer.’"

MP Burden, who has been pressing for the report to be completed, said it should now be put into the public domain as soon as possible: ‘Like everybody else in the area I have found it incredibly frustrating that we have had to wait so long for this report. So I now hope that the contents of the inquiry will be made available as soon as possible.

‘The escalating cost of the inquiry has also been a matter of real concern to so many people, including me. Hopefully the contents of the report will provide some answers to why it has cost so much and I certainly welcome the government’s commitment to try to minimise the cost of any similar inquiries in the future.

"But the important thing now is to know what the report contains and I hope the government will be able to make a statement on that as soon as possible.’"

When the report is finally made public interest will focus on the role of the "Phoenix Four" directors, most notably chairman John Towers, and the state of the company's pension scheme.

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