Question to the Department for Business, Innovation, Science and Trade:
To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment his Department has made of the potential impact of Government-backed financial support for Jaguar Land Rover on small and medium-sized businesses in its supply chain.
Last year, Government backed Jaguar Land Rover with a partial guarantee for a commercial loan of £1.5bn through UK Export Finance, to help JLR unlock commercial financing and ensure liquidity while operations were restored following a cyber-attack.
We continue to work with industry to strengthen the resilience of the UK automotive supply chain. As part of this, the DRIVE35-funded Suppliers Readiness and Transformation Programme, delivered in partnership with the North-East and West Midlands Metro Mayors, has allocated up to £50 million per region to support locally critical components and capabilities.