Tuesday, 27 January 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:

dearieme said...

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