DEPARTMENT FOR
BUSINESS, ENTERPRISE AND REGULATORY REFORM News Release (2009/20)
issued by COI News Distribution Service. 28 January 2009
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."