An inquiry into MG Rover has revealed that the so-called “Phoenix Four” who bought the company for just £10 shared up to £42 million in the run-up to the firm’s bankruptcy in 2005.
Anwar Iqbal worked at Rover’s Longbridge plant for over 20 years. He told Socialist Worker that the report has rekindled his anger at the way the firm was run down.
“We knew the new owners were in it for themselves, but the government gave them its blessing. They knew how to work the system to their advantage – and now they’re millionaires.
“I am a skilled worker, but now I work as a minicab driver. But I’m one of the lucky ones. Plenty of my former workmates are still unemployed.
“Rover’s closure has hit the whole of industry in the West Midlands. Around 6,000 of us lost our jobs, and many thousands more went in the supply chain.
“I can’t understand why the government didn’t do more to save our jobs. After all, look at what they managed to do for the bankers.”