National Audit Office to probe Northern Rock sale

Sunday 18 December 2011 01:00 GMT
Comments

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.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in