'National emergency' for car industry
19 December 2008, 1:22am
Jaguar Land Rover chief David Smith yesterday delivered the starkest warning yet about the state of Britain's stalling car industry, calling it a 'national emergency'.
Landrover and Jaguar Halewood plant in Merseyside
Crisis: Jaguar boss David Smith says the carmaking industry is collapsing as the recession hits
The carmaker, bought by India's Tata Group for just over £1bn only ten months ago, is pleading with the government for a £1bn bailout to help it through the current economic meltdown.
Smith said he had received 'no confirmation' about any financial assistance from government, adding: 'The Society of Motor Manufacturers and Traders has made it clear that the situation in the UK is a national emergency requiring urgent action.
'We believe that Jaguar Land Rover plays a critical role in the car industry in the UK, supporting up to 75,000 jobs in our own business as well as our suppliers and dealers, and spending around £3bn a year on research and development and purchasing in the UK.'
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'National emergency' for stalling car industry, says Jaguar boss David Smith | This is Money
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