Lord Mandelson pledges to fight for future of Vauxhall in the UK
As the future of Vauxhall operations in the UK and Europe still appear to very much up in the air, Lord Mandelson, the UK's business secretary, has today pledged to fight for UK jobs at the former General Motors European subsidiary. This is yet another saga which has been ongoing for many weeks amid signs that financial assistance has been slow in forthcoming from various European parties including the UK government.
Many people believed that a deal had been struck some weeks ago with a Canadian outfit only to find out that the bid was apparently underfunded and has been sent back to the drawing board. This is not the first time than Lord Mandelson and Gordon Brown have become involved directly in the Vauxhall situation although when you consider that in excess of £2.3 billion has been promised for the UK car industry but has yet to be delivered, the signs are not good.
Yet again the UK government appears to be strong on headline grabbing statements but not so strong on delivering promised liquidity, loan guarantees and further assistance. The proof is in the pudding and so far the pudding is nowhere near right and nowhere near safe to eat!
Share this..
Related stories
Swine flu fears hit the market
Stock markets around the world fell today in light of the outbreak of swine flu which has escaped from Mexico to countries as far away as New Zealand, Canada, Scotland, Israel and the United States of America. While we have seen potential pandemics come and go there are many experts who believe this particular outbreak has the potential to impact upon not only for the worldwide economy but the wor...
Read MoreFSA warns banks about remuneration packages
Just 24 hours after the potential £9.6 million remuneration package for Royal bank of Scotland chief executive Stephen Hester was announced, the Financial Services Authority (FSA) has warned banks not to slip into the "business as usual" mode. Without specifically mentioning the Stephen Hester situation it would appear that a number of UK banks have moved into the staff recruitment sector in a ve...
Read MoreNationwide’s mortgage lending falls by almost £1b
25/11/2014 Nationwide Building Society’s mortgage lending has fallen by almost £1 billion over the past six months, its interim results show. Nationwide, Britain’s biggest building society, has released figures showing lending at £13.1bn for the six months to September 30, down £900m from the six months to March 30. Net lending was £2bn lower at £3.6bn. New mortgages lending rul...
Read MoreBlack Friday helps retail sales rise
18/12/2014 Black Friday has caused UK retail sales to rise at their fastest annual rate for more than 10 years in November, official figures have shown. Sales rose by 6.4% in November this year compared to last year, the highest annual increase since May 2004. There was growth in all areas for the first time since December 2013, and on a monthly basis they rose 1.6%. The Black Friday di...
Read MoreWhat can we do to ensure that the credit crunch does not occur again?
The short answer is that we must all live within our means even if there is temptation to spread your wings and take on a little more debt that you feel comfortable with. We also need to understand that just because we have missed out on the start of an investment boom, in whatever asset class, it does not mean that we have to chase prices higher and higher.
However, there are many...