Brown To Blame For MG-Rover Collapse - 12th Jul 2009 12:41am
It took them £16 million and 4 years to find out what we already knew...
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The Times
Originally Posted by The Times
Gordon Brown was responsible for 'pulling the plug' on MG Rover, leading to the loss of 6,000 jobs, a report by the firm's former executives claims.
The dossier blames the Prime Minister and his former adviser Shriti Vadera for scuppering a rescue deal with the Chinese.
The allegations came as Lord Mandelson revealed a long-awaited £16million report into the collapse of MG rover could be published within weeks.
He said the Serious Fraud Office, which was called in to investigate the firm's demise in 2005, will reach a decision on whether to press criminal charges in 20 days...
The dossier blames the Prime Minister and his former adviser Shriti Vadera for scuppering a rescue deal with the Chinese.
The allegations came as Lord Mandelson revealed a long-awaited £16million report into the collapse of MG rover could be published within weeks.
He said the Serious Fraud Office, which was called in to investigate the firm's demise in 2005, will reach a decision on whether to press criminal charges in 20 days...
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Quote
But the firm collapsed shortly after when the Government refused to hand over a £120million short-term loan - a decision which led to the Chinese withdrawing from negotiations to buy the company.
It states bluntly: 'The directors firmly believe one vital fact - Prime Minster Tony Blair wanted to save MG Rover. It was then Chancellor Gordon Brown who pulled the plug acting on advice from his Special Adviser Shriti Vadera.
'As a result, MG Rover collapsed and the 6,000 jobs and thousands of supply chain jobs were lost.'
The report also claims that merchant Bank NM Rothschilds - acting for the main Chinese bidder Shanghai Automotive Industry Corporation - was 'uncomfortably close' to the UK Government and boasted of its links to ministers.
It states bluntly: 'The directors firmly believe one vital fact - Prime Minster Tony Blair wanted to save MG Rover. It was then Chancellor Gordon Brown who pulled the plug acting on advice from his Special Adviser Shriti Vadera.
'As a result, MG Rover collapsed and the 6,000 jobs and thousands of supply chain jobs were lost.'
The report also claims that merchant Bank NM Rothschilds - acting for the main Chinese bidder Shanghai Automotive Industry Corporation - was 'uncomfortably close' to the UK Government and boasted of its links to ministers.
The Times