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Car giant Honda announces UK sabbatical

Japanese car giant Honda has confirmed that initial plans to close its Swindon factory during February and March have now been extended to April and May as sales continue to fall and new cars continue to stack up on the forecourts. While this reduction in trading will see production halted it will also allow the group to consolidate its balance sheet and reduce outgoings for the next four months at a time when cash is literally king.

It would appear that despite all of the good intentions and headline news the UK government is unwilling or unable to fund a short to medium term rescue package for the industry as promised. When you consider how taxes on new cars, old cars and various other issues relating to the production of cars and UK drivers have increased over the years many had expected the government to step forward with an investment plan.

Hopes had been further raised when the US government announced a substantial bailout package for its own car manufacturing industry with many expecting the UK government to follow suit. For whatever reason this has not happened yet and with more and more car companies is closing down for the next few months and laying off staff it would appear any move now would be too little too late.

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