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)