Government meets with auto industry

Business secretary Lord Peter Mandelson and economics and business minister Ian Pearson met yesterday with automotive industry leaders to discuss the impact of the credit crunch and its affect on manufacturing jobs, it has been revealed.

In a statement, the Department for Business, Enterprise and Regulatory Reform (BERR) said the meeting provided an opportunity for the government to listen directly to how the industry has been affected by the current economic situation.

"The government is continuing to address the issue of access to finance to boost the economy and encourage consumer confidence," it added.

BERR also stated it intends to call strongly for a European Investment Bank funding scheme, which will have a swift application and decision process.

Earlier this week, Lord Mandelson addressed a Confederation of British Industry conference and said that a centre of expertise for high-tech manufacturing industries should be created in the UK.

In response, chief executive of Rolls Royce John Rose cautioned that an emerging clean-tech centre is unlikely to thrive, as conditions in Britain are not yet competitive enough.

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Filed: 28-11-2008