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 adequacy of Government financial support available to small and medium-sized businesses in Jaguar Land Rover’s supply chain affected by production disruption.
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 are working with industry to strengthen the resilience of the UK automotive supply chain and since the cyber-attack we have introduced a new supply chain programme. The DRIVE35 funded Suppliers Readiness and Transformation Programme, delivered in partnership with the Northeast and West Midlands Metro Mayors, has allocated up to £50 million per region to support locally critical components and capabilities.