Jaguar Land Rover: Loans
The question
To ask the Secretary of State for Business and Trade, how much and what proportion of the loan guarantee provided to Jaguar Land Rover has been used in the wider supply chain.
Answered by Chris McDonald
The government agreed to back Jaguar Land Rover (JLR) with a loan guarantee, to unlock up to £1.5 billion in commercial financing. The loan covered by the guarantee will be re-paid over 5 years. JLR supports 154,000 UK jobs and is an important customer for the automotive supply chain.
JLR is in the best position to be able to identify and understand the needs of its supply chain, and to ensure that its suppliers receive timely payments.
Eligible exporters are able to apply to UKEF for support. In this case, the UKEF Export Development Guarantee supports a specific commercial loan to JLR.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →