Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK government embarrassed over Jaguar Land Rover funding

Despite Jaguar Land Rover asking the UK government for assistance with regards to bank guarantees in the UK and in Europe, 12 months have passed with no definitive offer on the table. However, Tata Group, the parent company of Jaguar Land Rover, has today written to Peter Mandelson, the Business Secretary, to confirm that new finance has been secured with foreign banks and the "onerous" offer from the UK government is no longer under consideration.

There is a feeling that the UK government has been dragging its feet for some time now after initially promising guarantees which would have released £800 million for the Jaguar Land Rover operation. When you consider nearly 15,000 jobs were at risk if the company was to fail, many people are baffled as to why the UK authorities were not keener to assist with finance and safeguard the future of the company.

It is safe to say that despite 20 years of attracting prominent overseas businesses to the UK, the actions of the UK government over the last 12 months with regards to financial assistance for troubled companies has put the UK economy, at least in the eyes of overseas companies, back some years. So far there has been no response from the UK government with regards to the rejection of the "onerous" Jaguar Land Rover offer but we should hear a response in the short term.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details