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Pay freeze agreed with Vauxhall workers

As part of the scheme to save 5000 jobs at Vauxhall UK, workers in the UK have agreed a two-year pay freeze which will obviously take some pressure off the company's new owner Magna. This compromise agreement seems to have been orchestrated by Lord Mandelson with Gordon Brown very much taking a back seat over the issue.

While there is obviously great jubilation in the short term for the very fact that up to 5000 jobs have been saved there is still some concern about the long-term viability of Vauxhall UK. Prior to the deal with the Lord Mandelson the company had initially pinpointed Ellesmere Port as a venue for one of its new vehicles only to perform a U-turn and take away this possibility. It is also well known that a number of trade relationships will be up for renewal over the next few years and these could give Magna the perfect opportunity to exit the UK.

As we have covered on numerous occasions, the situation in the UK car industry has never been more difficult with companies struggling to attract business and despite the recent upsurge after the government's UK car scrappage scheme there are concerns about what will happen to the industry when the scheme is over.

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