The government’s relationship with Indian car maker Tata could be turning sour, following delays over a multi-million pound e-car loan. Tata_01 Tata wants a £10m govt loan to help it build a UK e-car production line Back in April Tata applied to the government for a £10m ($16.3m/€11.6m) loan to help set-up a UK production …
And I suspect the £2.6 billioin doesn't exist
"the government's caution may be"
"the government's caution may be something to do with the fact that it leant MG Rover £6.5m ($10.6/€7.5m) back in April 2005 - only to see both the cash and the company vanish down the toilet almost immediately afterwards."
Or more realistically it may be that all the taxpayers money we are likely to get for the next twenty years or more has been given (loaned?) to prop up a bunch of bent City banksters, and there's no money left for Lord "Two Resignations" Mandelson to use to support genuine "low carbon economy" projects such as Tata, or LDV's electric Maxus, etc.
Whatever you think of 'leccy cars...
...this government is bankrupt. UK plc is running out of excuses and 'the cheque is in the post' just doesn't cut the mustard any more.
Our civil service are in denial. We are not going to honour our pledges. We are going to start defaulting on our treasury bonds soon, then the IMF will come knocking and we will really learn the meaning of crisis capitalism.
Pension? What's a pension?
Tata should fund their own damn projects. Let's face it, they're not exactly short of cash.
All hands to the pumps
No... wait last man standing will have a huge bill. All others; bail out whilst there is still a chance!!!
Economy - what economy? I certainly wont be returning from my tax haven anytime soon. Unfortunately the Scots / Welsh / Irish / Cornish will get lumbered with the deficits whilst the London Boyz in the Pubs will fly to oblivion; shining out of Mandy's Posterior Comments.
Bot - what bot?
Never thought I'd see the day when Ford was the one sound car company in the world ...
say tata to tata
tata are a massive private enterprise.
if they don't like it tell them to FO.
"" The cash is earmarked for schemes that could help the UK car industry out of the current crisis and eco-friendly car development projects ""
Just remind me, /which/ UK car industry are we talking about ? Indian owned Jags and Landies, possible russion backed Vauxhall/Opels, Malay owned Lotus.
Ah yes, former Tank builder Ariel and TVR.... no wait , TVR don't even make cars here any more .....
To all the people saying no to the TaTa Loan
TaTa has been sinking 1.2 million a day into JaguarLandrover, how many other parent companies have been that generous.
So perhaps you could say the commitment of TaTa to JLR have shown is commendable. How many other companies have been so generous.
Trying to think of an example
Lloyds (had a loan but still getting rid of people)
RBS - Well they have had a loan. Where it went nobody knows.
LDV - We won't give you a penny so you can close. Oh and I'm still friends with Lord Mandy
Visteon - Sacked their entire workforce
BP - Make millions per hour - still getting rid of people.
CSC - making millions (tax payer money) but still cutting wages/pay freeze
Vestas Windsystems - Sacking their entire work force.
So people keep going let the country loose all their jobs. We can all just go and sign on.... opps but who would provide the cash for our handouts - No tax payers left remember.
Shouty Shouty because the Government is going to destroy us all
In Germany, the state of Lower Saxony holds "golden shares" in VW which ensures they can put a stop to any idea of VW moving production elsewhere. They didn't just give VW a loan and rely on a promise that they would stay.
I'm not a fan of nationalisation but shares are better collateral than promises. This can be applied to car manufacturers or banks or building societies.....
John Wayne Mandelson
You just get the feeling that the Government money was just a con to get news. Presumably they thought that as they have borked vehicle manufacturing in the Midlands, they could say that "Oh its not our fault, nobody was able to take us up on the offer as the were all bankrupt.
As for TATA, I somehow trust the Indians a lot more than the Cowboys in westminster..
Send a gunboat!
Hmm. Dodgy manufacturer of iron busses in India threatens sovereign government. Which of the two has armed forces, eh?
I'd tell em to pi** off.
As ever, some tripe replies to a story concerning the ongoing trend of this Government failing to do what it bores everyone to tears about; the need to invest in the future.
Consider this: When you have a company that has contributed untold tens of millions to the Exchequer in taxes and is a major employer and exporter, then is helping them with loan guarantees really such a big deal?
When a company wishes to invest in THIS country to make vehicles, of which a percentage will similarly be exported, employing people (and so taking them out of the social payments circuit) then is providing a grant such a huge problem?
Well, is it?
FO indeed. Jesus.