Plan to boost car finance
Huddersfield Daily Examiner (Huddersfield, England), Jan 16, 2009
THE Government is looking at a proposal to inject liquidity into the finance arm of the motor industry, Business Secretary Lord Mandelson has said.
He was responding to a report saying more car loans could be encouraged by extending the Bank of England's special liquidity scheme to motor-based finance firms.
After a tour of a Ford engine plant in Bridgend, South Wales, Lord Mandelson said the Government was considering how to help car makers "and what was the best use of the resources."
But he added: "I don't think the auto industry in the UK needs a bailout."
COPYRIGHT 2009 MGN Ltd.
COPYRIGHT 2009 Gale, Cengage Learning
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