Mandelson to unveil 'help' for the UK's car industry
Motor trades
27th January 2009
The business secretary Peter Mandelson is due to unveil a package of measures aimed at helping the country's struggling car manufacturers cope with the credit crunch and recession.
Lord Mandelson will make a statement today (January 27th) before the House of Lords and will speak with the bosses of companies such as General Motors and Jaguar Land Rover tomorrow.
The prime minister's spokesman Michael Ellam said the measures would not constitute a state-funded bail-out of the motor trade.
Meanwhile, James Rosenstein, a spokesman for Bentley, said in a recent interview with Bloomberg: "The feeling in the industry is very strong that something needs to be done to tide us through this crisis.
"Suppliers need credit. It's very much up and down the chain."
Recently, the new US preisdent Barack Obama announced plans to help wean the country off its dependence on oil and take steps towards helping its auto industry.
