National Audit Office to probe Northern Rock sale

The deal which saw Northern Rock sold to Virgin Money is to be investigated by the National Audit Office (NAO), it was announced last night.

The probe will see if taxpayers got the best possible deal when ministers approved a £747m deal for the bailed-out bank last month.

Amyas Morse, the head of the NAO, confirmed that an inquiry would be launched in a letter to the shadow financial secretary Chris Leslie, but said that investigators could not block the sale.

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