GME secures UK Government guarantee
Business Secretary Lord Mandelson said the guarantee will be provided under the Government’s Automotive Assistance Programme.
He said: ‘I always said the Government would stand foursquare behind Vauxhall and with this announcement today we have kept our word. These are excellent plants employing a first-rate workforce.
‘We need Vauxhall to thrive as part of Britain’s automotive manufacturing base and following our negotiations with GM Europe I am confident it will do so.’
Discussions will continue with GM and other European governments to finalise the remaining details of funding terms and arrangements enabling the implementation of the business plan, the Department for Business, Innovation & Skills said.