MG Rover bill exceeds £10 million
22 October 2007
- Inquiry bill tops £10 million
- Costs increase £300k a month
- Report still not published
The bill for the inquiry into why MG Rover went bust has passed £10 million.
The car maker went into administration in 2005, despite being given a £6.5-million loan from the government.
An inquiry was set up shortly afterwards because the government's loan was agreed just before a general election.
However, according to the Financial Times, the inquiry's costs have totalled £8.4 million in fees and a further £1.5million in VAT, and are increasing at £300,000 a month.
No date has been fixed for the inquiry to end.
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