Government considers financial support for JLR suppliers
Summary
The government is thinking about giving financial help to companies that supply parts to Jaguar Land Rover (JLR) after a cyber attack stopped JLR's car production. This support could include buying parts from suppliers or offering loans, but a furlough-like scheme is not being considered. The Business and Trade Select Committee will discuss the situation with suppliers soon.Key Facts
- JLR stopped car production in August due to a cyber attack on its IT systems.
- The production shutdown affects the company's supply chain, especially smaller suppliers.
- The government is considering buying parts from these suppliers to help them stay in business.
- Another option could be offering government-backed loans to suppliers.
- A furlough-style scheme was considered but ruled out due to cost concerns.
- The Business and Trade Select Committee will meet to discuss the issue with JLR's supply chain businesses.
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