(Tue 11 Aug 09)

Funding discussions between Tata (the Indian company which bought Jaguar and Land Rover from Ford last year) and the UK Government have come to an end, at least for now.

Tata started talking to the Government in September about a possible bridging loan, but the details were never sorted out and the conversation verged on tetchiness on several occasions. However, Tata has now announced that it has secured private sector funding, including direct bank loans, which will allow it to unlock further funds from the European Investment Bank, and that it therefore no longer needs financial support from the Government.

Business Secretary Peter Mandelson described the news as "a good and encouraging outcome for JLR, its workforce and its supply chain", and added that "we are willing to help again if necessary".

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