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MG Rover

My Lords, the noble Lord has raised a range of issues. It is intended that when the report is published it will be made available online and free of charge. It is important to state that this was an arm’s-length, independent and thorough investigation and review of a complex and detailed issue. This was not just one company because there were about 33 subsidiaries and related companies. Some £1.3 billion of creditor money was owed and around 6,000 jobs were directly involved, with a further 12,500 indirectly. Not that many independent reviews of this nature have been done. Apart from Lonrho and Guinness, I think that since 1992, seven inspections have been carried out under Section 432 of the Companies Act 1985. They do not have cost and time limits as such, and given the credibility of the people involved in producing this report, it was up to them to continue a dialogue with the government department, which they did. The cost as of 31 May 2009 was £15.9 million. The Serious Fraud Office now has four years’ worth of interviews, witness statements and the report in its totality to evaluate. It has a body of evidence to consider, one hopes, very quickly. I would also say that this is not a cover-up, but a thorough and independent investigation into what was a very difficult corporate collapse. Given the complexity and the timescale, it is important that we do not prejudice any possible action or next steps by the Serious Fraud Office, so in any statements we make we have to be careful that we do not create problems as regards any further investigations. I want to make one other comment, which is that given the sensitive nature of the issue, there has been continuous dialogue. While I accept that it has taken a long time, it is important that an investigation of this type is independent, thorough and done properly. That is exactly what has happened in this case.