I don’t normally get involved with this sort of thing however this is something I believe in! It’s a petition on the UK government’s website to save Jaguar / Land Rover, I’ve added further details below in case you want to know more details. The petition is found at
Kevin (05 2.7D SE)
The petition reads: “We the undersigned petition the Prime Minister to direct the government to provide Jaguar Land Rover with the targeted assistance it is requesting to weather the credit crisis and retain its central role at the heart of the UK’s automotive and manufacturing industries.”
It only takes 5 mins to sign and pass on…
This is not a bail-out: This well-run company is not asking for hand-outs, but loans or guarantees at commercial rates to enable it to get on with developing high quality cars.
Tata invests heavily in JLR: JLR itself made a £327 million operating profit in 2007 and £310 million operating profit in the first half of 2008. Tata is a socially responsible owner and has invested heavily in JLR since acquiring it in June 2008.
It’s the green choice: JLR accounts for 50% of all R&D in the UK auto industry, working with suppliers and universities to cut carbon emissions. It has an investment programme of around £800 million in environmental technologies. The UK’s industrial future needs high value engineering skills, which could be lost forever if JLR fails.
JLR is the heart of UK manufacturing: It supports 15,000 jobs in its own business as well as 60,000 at suppliers and dealers. JLR spends £2.5 billion a year with suppliers and exports over £4 billion in products.
The deal makes financial sense: Lost income (income tax, VAT, etc) could cost the taxpayer £2 billion. A loan or loan guarantee, would be less than £1 billion, repaid at commercial rates within a year to 18 months.