Rescue plans in the pipeline - News - Evening Standard
       

Rescue plans in the pipeline

Working Capital Scheme Aim:

To guarantee credit lines to firms that have annual sales of up to £500 million. Total guaranteed would be £20 billion with the taxpayer covering half

Cost: Potential cost of £10billion

Status: Announced on 14 January for launch on 1 March. So far £1billion guaranteed and talks are taking place

Automotive Assistance Programme Aim:

To unlock £1.3billion of European grants for car-makers to invest in clean technology cars

Cost: £1.3billion

Status: Announced on 27 January but nothing off the ground yet

Treasury Guarantee Scheme for Asset-Backed Securities Aim:

Full or partial guarantees from the taxpayer for certain asset-backed securities, including mortgages and corporate debts

Cost: Up to £50billion, depending on take-up

Status: Announced on 19 January, but not yet running

Homeowners Mortgage Support Scheme Aim:

Billed as help for middle class homeowners who fall into trouble, allowing them to defer mortgage payments for two years

Cost: £500 million

Status: Not yet launched and questions asked over how generous it will really be

Mortgage Rescue Scheme Aim:

Help for households with incomes below £60,000, particularly the elderly, families with children and the disabled

Cost: £200 million

Status: Launched in January but only 300 families so far "in the system"

Capital schemes brought forward

Aim: Speeding up big projects originally planned for future years, including £100 million Decent Homes programme, plus £175 million for council house repairs and £150 million for affordable homes.

Cost: £325 million

Status: Shortage in private finance have raised question marks but too early to say

National Internships Aim:

Helping new graduates find jobs

Cost: Unknown

Status: Planned to roll out for this summer's graduates

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