BL resisting ministers on £250m investment
By Clifford Webb. Motoring Correspondent
BL is resisting government pressure to reduce its investment plans over the next five years by £250 million. The arguement is delaying approval of the state-controlled motor group’s corporate plan. Sources close to the company said last night that such a substantial cutback would seriously jeopardize the next generation of new Austin Rover cars.
The Government appears to have been preparing the way for a cutback announcement by suggesting that closer involvement with the Japanese manufacturers, Honda would be preferable, to the proposed investment programme which, it insists, BL will have difficulty in supporting without further government financial assistance. In reply BL has said that it believes its capital requirements can be raised in the City if the Government will reaffirm its existing guarantees to the banks.
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.