Reduced fines for bid-rigging firms

Construction firms who co-operated with the Office of Fair Trading (OFT) bid-rigging inquiry are likely to face much lower fines than predicted when the scandal broke 18 months ago, according to reports.

The impact of the recession, which has already caused some of the 112 firms named by the inquiry to go under, is also likely to reduce the fines.

However, the article in the Times says the fines will still run to "multi-millions" for the biggest names, including Balfour Beatty, Carillion and Kier.

The OFT is due to reveal the sanctions it will take against the firms next month.