Mandelson says `quicken the pace`

Mandelson says `quicken the pace`

The parent company of beleaguered carmaker Jaguar has been urged by business secretary Lord Mandelson to respond to an offer of Government help.

It was announced last week that 300 jobs would be lost at Merseyside's Halewood plant in the wake of the decision to end the jaguar X-Type production.

"Quicken the pace" was the message from Lord Mandelson to the firm's Indian owners, Tata Motors, over negotiations for a package of support for JLR.

Agreement for a £340 million loan from the European Investment Bank was received by Tata in April, but it is now in talks with the Government over the terms for guaranteeing this loan, as well as other financial support for the group.

Lord Mandelson said on Sky News' Sunday Live programme that Jaguar Land Rover was a good, first rate company with "many strengths and a good future".

He added: "I am waiting for the owners, Tata Motors, to come back and make their response to the offer of financial support the Government has made to them."

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