A variety of viewpoints have been presented
on whether Lord Mandelson is right to attack the
Bank of England over failure to help out the
car finance sector of the ailing
motor industry .
The assault on the
bank has been answered with a frosty response that rejects his
assertions. However,
vehicle finance experts make it clear that additional aid of
the
car sector, particularly car
finance divisions, is urgently needed. Furthermore, the Bank
may be slowing these negotiations down.
The
car finance arms of major
motor companies have been slammed by frozen finance, meaning
they cannot offer
loans to would-be
new car buyers. This is part of the reason why the
car market seems currently frozen, manufacturing is halting,
and thousands of jobs are being axed.
Motor finance experts make it clear that the Bank should be
dealing with this issue. However, Mandelson himself and the DoB may
be called to task regarding a scrappage scheme and wage
substitutes.
