Everyone knows that foreclosure is an awful experience, but I think many of us we surprised at how high the shadow cost of breaching must be.

FORBES: NGDP in the Long Run and Economic Plasticity

Shadow Cabinet Office minister Tessa Jowell agreed that the cost of the redundancy scheme needed to be reduced and currently provides "overly generous and disproportionate benefits for some very highly-paid people".

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The Arcoxia results will represent yet another minefield for Merck, now operating under the shadow of more than 11, 000 Vioxx lawsuits that could cost it many billions of dollars.

FORBES: Vioxx, The Sequel

But Labour's shadow chief secretary to the Treasury, Rachel Reeves, said the chancellor was borrowing billions more to pay for the cost of his economic failure.

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Neath MP and Shadow Welsh Secretary Peter Hain has said previously that the workforce had been willing to make "tough and brave" cost savings which would have hit their earnings by more than 15% and possibly more if a guarantee had been given that Resolven had a future.

BBC: Last day for staff as Resolven TRW Automotive closes