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Motor Vehicles: Manufacturing Industries

Volume 495: debated on Tuesday 30 June 2009

To ask the Minister of State, Department for Business, Innovation and Skills pursuant to the answer of 2 April 2009, Official Report, column 1446W, on motor industry: government assistance, whether his Department has received applications for the provision of guarantees for European Investment Bank loans to UK automotive companies under the Automotive Assistance Programme. (274280)

The Government remain committed to providing guarantees, where appropriate, to help unlock up to £1.3 billion in European investment bank loans to UK automotive companies. While no guarantees have at this stage been provided, BIS is actively supporting the EIB applications of a number of UK automotive companies and stands ready to offer a guarantee where necessary and in accordance with the published criteria for the Automotive Assistance Programme.