Vauxhall to get �270m from the UK

By Graham Ruddick 414PM GMT twelve March 2010

The Government has concluded to a �270m loan to assistance pledge jobs in the UK

After months of negotiations, Lord Mandelson, the Business Secretary, has pronounced that the car builder will embrace a €300m (�270m) loan pledge by the Automotive Assistance Programme.

The monetary support, that is theme to a finalising of sum in between the Government and General Motors, Vauxhalls owner, will form piece of a package value up to €3.9bn that GM is putting together with governments to financial the restructuring of the European operations.

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Vauxhall has 5,000 workers in the UK, essentially at plants at Ellesmere Port and Luton. However, their destiny has been in disbelief given last February, when GM suggested it programmed to sell the European business, a offer it after scrapped.

"I regularly pronounced the Government would mount foursquare at the back of Vauxhall and with this proclamation currently we have kept the word," Lord Mandelson said. "These are glorious plants contracting a initial rate workforce."We need Vauxhall to flower as piece of Britain"s automotive production bottom and following the negotiations with GM Europe I am assured it will do so".