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Rover probe bill has topped £10m

The Government probe into the collapse of Midlands motor giant MG Rover has now cost more than £10 million, it has been revealed.The Government probe into the collapse of Midlands motor giant MG Rover has now cost more than £10 million, it has been revealed. The Longbridge car-maker collapsed in April 2005 with losses of £1.6 billion and around 6,000 people lost their jobs. The Government immediately launched an inquiry into the industrial disaster, which is also looking into the role of the so-called Phoenix Four - the Midland businessmen headed by John Towers who bought the business for £10 from BMW and ran it until its collapse. Last night it was disclosed that the costs of the Government-commissioned inquiry now stand at more than £10 million. Enterprise Minister Stephen Timms said the costs, as at December 3, 2007, were £9,068,693 plus VAT of £1,661,501. Mr Timms added that, in addition, disbursements of £425,596 were also paid. See the Express & Star for full coverage

Business|Jan 16, 2008
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