Tuesday, January 27, 2009

Another bailout

The generosity of New Labour has no limits, at least when it comes to taxpayers money.

Another day, another bailout....

Peter Mandelson, business secretary, has unveiled a package of measures to help Britain’s embattled car industry, by offering financial support for the development of low carbon vehicles with new loan guarantees.

The announcement outlined a new guarantee scheme to back £1.3bn of loans from the European Investment Bank, with another £1bn of loans that would not be eligible for such funding.

(From the FT)

1 comment:

  1. I'm looking forward to the photographs of the first meeting between Lord Mortgagefraud and Taxdodger Geithner.