So, it looks like it could be the end for LDV and I, for one, can’t help but feel that these are increasingly looking like desperate times for the automotive industry in the UK. I suppose that cash-strapped vehicle makers looking after their bottom lines are always going to close overseas operations (just look at GM and Saab – it won’t be the last) – and I can’t entirely blame GAZ for pulling out of the UK, but what angers me is Her Majesty’s Government’s refusal to offer bridging finance to at least give the company a chance of survival.
Given the readiness of the government to bailout the banks (to the tune of countless tens of billions), guaranteeing loans that they won’t then pass on to struggling businesses and households, it’s sickening to see manufacturing allowed to wither and die once again. LDV under management control would have ended up being a British company, too. So why no £30m loan?
My thoughts are with the workers and their families at both LDV and the suppliers whose businesses depend on the company’s output… how galling must it be to see the US and European governments protect their own failing industries while our own go down the pan…
Vive la capitalism, eh?