Lord Mandelson looks to bail out the car industry yet again
The last few weeks have seen Lord Mandelson ditch his newfound reputation and revert to norm with spin again taking centre stage in his world. First of all he suggested that the UK car manufacturing industry should be bailed out with taxpayers money, then he denied saying this, then he introduced a scheme which was backed by a European banking fund. At that moment in time he suggested that this was not a bailout or rescue package but more of a finance issue which would enable car manufacturers to recapitalise their businesses.
However, it has been revealed today that the government is seriously considering an old car for new car exchange all in the name of the "environment" which would see car use in the UK receive payments of up to £2,000 for scrapping their old gas guzzling cars in exchange for environmentally friendly motors. The move has been ridiculed by many consumer groups as a complete waste of money and a rescue package for the car industry in all but name.
It seems that with each and every turn the government make there is something under the surface and what we hear in the press is not always what we see in real life. The trust factor of the Gordon Brown government has been falling for some time, not helped by recent events which have further exacerbated the problem.
Share this..
Related stories
Marc Bolland takes his seat at Marks & Spencer
Marc Bolland, the new chief executive of Marks & Spencer, is 24 hours into his new role and one day into an eight week induction course. This is the man who has been given the opportunity to relight the fire of Marks & Spencer after a difficult period in the history of this ever popular UK retailer. So what can we expect from the tenure of the new chief executive? Marc Bolland, formerly of Morr...
Read MorePrudential calls off AIG acquisition
There is intense speculation this evening that UK insurer Prudential has failed to agree a reduced price for the acquisition of AIG's Asian operation. As a consequence the $35 billion acquisition looks set to fall by the wayside although we await official confirmation that the deal is dead. It is believed that the cancellation of the takeover will still cost the Prudential in excess of £100 milli...
Read MoreRoyal Mint releases faulty 20p coins worth possible £50 each
In a remarkable turn of events the Royal Mint has today confirmed that a batch of faulty 20p coins have been released into the UK economy. However, while the coins are faulty they are still legal tender but if you are lucky enough to find one then perhaps you should consider retaining it for the future!
It has been revealed that the coins, which bear no date of issue, are the first...
UK property 'cooling in May'
Britain's housing market began to show signs of slowing down in May, the latest Nationwide house price index shows.Monthly growth totalled 0.5 per cent in May, falling from the 0.9 per cent seen in April, the building society said. Annual growth fell from 10.3 per cent to 10.2 per cent thanks to strong activity 12 months ago.The May fall has been partly caused by recent interest rate hikes by the...
Read MoreWorld Economic Forum hits back at overregulation
The World Economic Forum has this week seen chief executive after chief executive step forward to condemn the ongoing increase in regulations in the worldwide financial sector. This is the first time we have seen banks publicly fight back together in what is becoming something of a witch hunt around the world. Only recently Pres Obama introduced a very heavy tax levy on the US banking system an...
Read More