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Showing posts with label automotive. Show all posts
Showing posts with label automotive. Show all posts
Tuesday, July 22, 2014
Sunday, December 5, 2010
UK automotive industry ' set for loan guarantee '
The beleaguered British automotive industry could be set to a cash injection to get, with plans for loans would be backed up by the taxpayer.
According to a report in the Daily Telegraph the Government on conservative calls for a large-scale ?50 billion loan scheme refuse set is, and instead focuses on supporting small business.
However, the paper reports that Ministers are "almost certainly" a special case for the automotive industry to meet, which repeated for financial assistance the U.S. auto industry Bail-Out similarly encouraged.
The paper says that business Secretary General Mr Mandelson is considering providing guarantees for banks that were short-term loans to car manufacturers to offer in free fall in 2008.
Conservative leader David Cameron told BBC Radio 4's today programme that Britain was a crisis "Debt" and the answer could not be more borrowing.
"There are a slew of rebalancing must take place," he added.
"Our economy is awfully closely based been."
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