In a move that reflects the deep concerns within Government about the threat to UK jobs and the viability of Magna\’s plans, the Business Secretary hired PwC to scrutinise the arrangements separately from a German study.
PwC, one of the \”big four\” accountancy firms, is believed to have confirmed Lord Mandelson\’s fears that Magna\’s restructuring proposals for General Motors Europe are not the most commercially viable and that a buyer taking a fresh look at the business would pursue a different approach.
Quite amazing really, don\’t know why he\’s wasting his time in government. With skills like that he could simply team up with PwC and create an industrial giant, couldn\’t he?
In an interview while on a visit to Korea, the Business Secretary said the present business plan has \”shortcomings\” and cannot be accepted.
He added: \”If there are not to be negative consequences for Vauxhall, the plan needs to be redressed in certain ways.\”
Just astonishing the skills you pick up over the years as a vote stealer. We\’ve got Ed Balls, who trained in economics and now knows how to run schools, Alistair Darling, a lawyer who now knows how to run the economy….just astonishing how this knowledge simply descends from the heavens when you get a seat around that Cabinet table, isn\’t it?