I asked a few weeks ago why the UK tax payer was being asked to loan money at a preferential rate to Santander, a Spanish bank, when it appears to me that the Spanish Government ought to be doing this. So I am equally perplexed as to why the UK taxpayer is now being asked to provide emergency loans to foreign owned car makers.
According to reports, the UK government is to provide funding to the billionaire Indian owner of Jaguar/Land Rover. Why are we bailing out billionaire Indian businessmen ?
Reports state that similar support fro the car industry has happened from governments in Sweden, France and Germany, but the reports fail to distinguish between the fact that these countries have domestically owned cars companies of their own, whereas we do not.
If Land Rover and Jaguar needs support then the government should make the loan dependent on the UK government getting a % of the shares and also a share in future profits in the company.