Department for Business, Innovation and Skills
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BERR statement following the meeting with Car Industry today:
Business Secretary Lord Mandelson said:
"We have had an extremely useful meeting with the industry today. The package of loan guarantees we announced yesterday was welcomed by the manufacturers we met, and we had a productive discussion on how the industry and supply chain can access these guarantees as well as the previous measures we have outlined.
"I have asked industry to work with my Department to ensure they can access these schemes as early as possible. We have already had discussions with the European Investment Bank and we are beginning immediate talks with the European Commission to ensure that we are able to move forward on yesterday's measures rapidly.
"There was also agreement at today's meeting to take forward work to improve car company financing arms' access to funding. BERR have already opened exploratory discussions with banks and Trade and Investment Minister Mervyn Davies will be taking this forward. Further meetings on this between BERR and manufacturers will take place this week.
"I am confident that the actions we and the automotive industry will now be taking together will help the industry build the bridge to a greener future for the auto sector. I very much welcome the support of the SMMT and the manufacturers who have recognised that the Government is taking action to address the challenges faced by this strategically important industry."
