Sunday, February 15, 2009

Mandelson 'to make car statement'

Mandelson 'to make car statement'

Lord Mandelson
Lord Mandelson has resisted calls for an industry-wide bail out

Business Secretary Lord Mandelson is set to make a statement at 1505 GMT in the House of Lords on the car industry.

The government has faced calls to bail-out Britain's car makers which have been hit badly by the recession.

Jaguar Land Rover asked the government for financial support last month amid union warnings of job cuts.

But Lord Mandelson said the government would act only as a "lender of last resort" and the firm's owner, Tata, must "look to their own resources".

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