COMPANIES The UK government on Tuesday night agreed a £5m bail-out of LDV, the struggling British vanmaker, in a contentious move that marks a symbolic shift in Labour’s industrial policy for responding to the recession.
Ministers stressed that the four-week taxpayer-funded loan, designed to secure a rescue deal by Malaysian vehicles business Weststar, was a “one-off” that did not set a precedent for more hand-outs to LDV or other threatened companies.
