The bailout plan, titled “Project Birch”, had been authorized by Finance Minister Rishi Sunak in May to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a “last resort” basis after other options run out.
The report, citing a source familiar with the matter, said that the funding scheme became infeasible for Tata as it imposed strict conditions on any lending. “Tata Steel remains in ongoing and constructive talks with the UK Government on areas of potential support,” Tata Steel said in an emailed statement.
The UK Treasury said it would not comment on individual companies. Tata Motors did not immediately respond to request for comment.
JLR build absolute junk cars. Let them go, they won't be missed.
Just ask Delorean they do not bail you out....
Mixed Messages Deja Vue.
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