Montagu will not step down

Link: Revenue chief’s job not under threat

A Revenue spokesman told Accountancy Age there is ‘absolutely no question of Sir Nicholas Montagu resigning’.

Chancellor Gordon Brown is reported to be absolutely ‘furious’ with the cock-up that saw £220m worth of Inland Revenue property being sold to a company based in a tax haven.

Howard Flight, shadow chief secretary to the Treasury, described the gaffe as ‘obviously an own goal’ but lent his support to Montagu by saying he had quite a lot of admiration for him. ‘In the main he’s done a good job, and it was a very good appointment.’

However, he went on to say: ‘There needs to be a pretty thorough investigation into precisely how this happened, and maybe there will be some heads to roll.’

Montagu is set to retire from his position in either March or April next year. But whether or not Brown allows him to see out the remainder of his contract is still in the balance.

Commentators on the subject suggest that a decision will be made within the next two months.

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