The Automotive Assistance Programme –
the government initiative to support the ailing
car industry –has come under fire from a parliamentary
committee. The Business and Enterprise Committee were said to be
shocked that
loans were yet to be passed to struggling
car manufacturers .
The committee, which is made up of MPs from several parties, said
that
new car sales slumps have prompted many car companies to cut
jobs, lower production and reduce salaries. With some 384,000
people employed in the car industry, and thousands more in the
car finance industry, this sector is extremely important.
To date, no car manufacturer or
vehicle finance arm has received support from the British
Government. The MPs reportedly commented: We cannot
discount the industry's complaints about the delays in
agreeing support measures, and we are profoundly disappointed that
to date not one single penny has been advanced through the scheme.
We hope that this will change rapidly.
