Car company Vauxhall will be given £270 million of financial support from the UK government to secure the jobs of 5,000 employees. The car company has been damaged by the economic climate and requires government support to protect its workforce.

Lord Mandelson said that Vauxhall will receive a £270 million loan via the automotive assistance programme . Vauxhall is owned by General Motors, with whom the Government still needs to finance a small print. GM had been planning to sell their European business.

Lord Mandelson was reported as saying: I always said the Government would stand foursquare behind Vauxhall and with this announcement today we have kept our word. These are excellent plants employing a first rate workforce. We need Vauxhall to thrive as part of Britain's automotive manufacturing base and following our negotiations with GM Europe I am confident it will do so.