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UK manufacturer LDV begs government for support

The Russian owners of LDV Vans have today approach the UK government for support in the region of £30 million. The company is not requesting a direct loan from the government but is suggesting that the process which began last month is speeded up and up to £2.3 billion of loans and guarantees are made available to the vehicle manufacturing sector in the UK.

The situation has been slightly complicated by the presence of the Russian company and the indirect connection with a Russian business person with whom Lord Mandelson has reportedly had dealings with in the past. However when you consider that up to 850 jobs are at risk in the LDV factory alone as well as 1,200 in the LDV Van dealer network, not to mention 4,000 indirect jobs at supplies in the UK, there could be serious consequences if the emergency funding does not materialise.

This is the more serious request from the vehicle manufacturing industry to date and places the UK government in a very difficult situation bearing in mind the billions of pounds spent on the financial sector. If finance and guarantees are made available to the likes of LDV Vans this could open the floodgates for other businesses and other sectors to apply directly to the UK government.

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