Auto Firms Fold As Aid Is 'Criminally' Delayed

Summary


Unfulfilled government promises to the car making industry were branded "criminal" by business leaders as hundreds more companies faced bankruptcy in the West Midlands.

Birmingham Chamber of Commerce and Industry (BCI) warned last night an average of three supply chain companies a week were going to the wall while the pounds 2.3billion rescue packaged announced by business secretary Lord Mandelson three weeks ago remains inaccessible.

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Extract


Auto Firms Fold As Aid Is 'Criminally' Delayed

Funds are still waiting to be cleared by the European Commission but the application was only submitted by the Government this week. Appr...

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