Chancellor Gordon Brown faces a battle with the EU over a rescue deal for MG Rover that involves a multi-million pound tax break, reports the Times.
Brown is in China lobbying for a conclusion to talks between MG Rover and Shanghai Automotive Industry Corporation (SAIC). He said yesterday that MG Rover will get special ‘tax flexibility’.
‘I do understand that discussions between Rover and Customs & Excise have been helpful,’ Brown said. ‘I can confirm that Rover can benefit from flexibility in the tax system.’
But preferential treatment given to individual companies is illegal under EU competition rules. The European Commission yesterday said that any financial support by the government would be scrutinised by its competition lawyers.
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars