From PoliticsHome:
Union calls for £13bn government fund for car industry 14:17 | 10/11/2008
Tony Woodley, General Secretary, Unite
Sky News
Mr Woodley said he had called on the government to provide a £13bn fund to support the car industry during the economic downturn.
Highlighting the threat to UK car manufacturing from the potential collapse of General Motors he called on the government to: "work with President Elect Obama to support General Motors so it survives".
He also called on Lord Mandelson: "In the mean time to approach the Chancellor for a £13bn fund that could be used by the whole industry ... for loans at decent rates to keep our industry alive".
No further comment necessary from me. [Actually, I've changed my mind. A brief further comment. I don't really see why one would say that Woodley is wrong, here, if one has supported the bank bailouts (which I didn't). Collapse of the large US car companies would certain have systemic effects for the US economy, and there could well be spillover effects into the UK car industry that would lead to regional blight in the UK. If the US can find trillions to support the banks there, why not a few tens of billions for the auto industry, and if we in the UK can find £500bn to support our banks, why can't we find £13bn to support the car industry? Does anybody want to suggest something David Cameron could say to oppose the establishment of such a fund for the car industry that would not expose him to the question: "So why did you support the bank bailout, in that case?"]
