LDV Vans is rebuked by the UK government
The UK government has this evening appeared to rule out a last-ditch £30 million loan for troubled van manufacture LDV Vans. The company had earlier today approached the authorities with regards to a potential loan of up to £30 million and while initially there had been hope that the government would step in to assist, these hopes appear to have been dashed this evening.
There is speculation that the LDV Vans business was the one which the Unite union was alluding to early this week with the potential loss of 6000 jobs, both directly and indirectly connected to the business. The unions are dismayed that the UK government has refused this relatively small loan for what they see as a commercially viable business. However, on one hand the business has literally hundreds if not thousands of vans waiting to be sold, after placing employees on a paid holiday a few weeks ago, but on the other hand the management had hinted at a move to green transport which appears to top the UK government's hit list.
The next few days are sure to be tricky for Gordon Brown as the banking sector receives yet more funding from the taxpayer while other businesses and operations are left to their own devices.
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