Auto Express can confirm the British government has been in talks with Jaguar Land Rover regarding a possible bail-out.
If the plan does go ahead JLR will have access to around £1bn of taxpayers money over a two year period.
The Business Secretary Lord Mandelson commented “I have had discussions with the owners and management of Jaguar Land Rover in particular, because they argue that they are under particular strain,” he went on to say “The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country.”
Lord Mandelson was quick to respond to questions about other possible bail-outs, saying there would “not be a long list of them.”
JLE’s large UK infrastructure is another major reason for the bail-out talks reaching this stage, with 15,000 staff employed in the UK.
Mandelson has made it clear though that JLR’s responsibility still lies with Tata, and if the government do end up helping it will not be “an open chequebook” situation.
Whatever is decided Gordon brown will cast the key vote.
If the plan does go ahead JLR will have access to around £1bn of taxpayers money over a two year period.
The Business Secretary Lord Mandelson commented “I have had discussions with the owners and management of Jaguar Land Rover in particular, because they argue that they are under particular strain,” he went on to say “The car sector - car manufacturing - is a centre of real excellence and competitive strength in our country.”
Lord Mandelson was quick to respond to questions about other possible bail-outs, saying there would “not be a long list of them.”
JLE’s large UK infrastructure is another major reason for the bail-out talks reaching this stage, with 15,000 staff employed in the UK.
Mandelson has made it clear though that JLR’s responsibility still lies with Tata, and if the government do end up helping it will not be “an open chequebook” situation.
Whatever is decided Gordon brown will cast the key vote.
Thanks to: Auto Express