MG Rover report: Phoenix Four accuse Government of "witchhunt"
The Phoenix Four claimed the script for the report had been “written before the process started.
“The Inspectors were not interested in hearing about any of the fundamental business processes, and in virtual denial when it came to discussing the role of government.
“The government also tried to accuse us of fraud – a tactic that failed. The latest indications are that they will pursue disqualification proceedings against us, despite the fact that it is very well known that there is no possibility of us ever again considering this sort of role in the UK. It is political grandstanding.
“This report tells us nothing new about our remuneration – everyone knew what we were paid. It was never a secret. They did not have to spend £18 million to find that out.
“Our remuneration was all in the company accounts and signed off by Deloitte, one of the world’s most respected firms of auditors. It was entirely legal, above board, and much less than similar payments in large car companies.
“Swept aside in this report is the fact that, in April 2000, the padlocks were going on the gates at Longbridge. The mighty BMW was closing the company and thousands of people were staring the dole in the face.
“That didn’t happen because we were not prepared to let it happen. We then succeeded in drastically reducing the company losses where BMW could not.
“We secured hundreds of millions of pounds of new investment and most importantly, secured employment for a workforce who received £1 billion in wages over five years. The Exchequer also received £450 million in taxes.
“Our greatest regret is that the company could not ultimately be saved. All of us had strong links to the company. Saving MG Rover was why we took the challenge on in the first place, not personal gain.
“And no-one else wanted the job. The suggestion that we put personal gain ahead of the interests of MG Rover is utterly offensive and a complete travesty of the truth.
“One point which has been conveniently overlooked in the report, even though it was widely known, was that we were willing to put £10 million of our own funds back into the business to ensure the future of the company.
“We tried our best and to this day we are bitterly disappointed that when the moment came for the government to step up to the plate to help MG Rover, it didn’t.”
SEE THE RESPONSE IN FULL AT www.birminghammail.net/live
