Government pressed on motor firms

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President George Bush said allowing firms such as Ford, Chrysler and General Motors to fail would not be "a responsible course of action".

US car firms will get 13.4 billion US dollars in short-term financing from a 700 US dollar billion Wall Street bail-out, followed by another four billion US dollars later.

Prime Minister Gordon Brown told his final news conference of 2008 that no decision had been made on what form of support could be offered to firms including car maker Jaguar Land Rover, which is owned by Indian firm Tata.

He said: "To be fair to Tata, they have taken over one of the best research and development facilities in our country.

"The Jaguar research and development facility is the best in the car industry and one of the greatest facilities in Europe. And they have been investing in new research and development for the future. Different industries will have different problems at this time. There is a problem about consumer demand in the car industry.

"We of course talk to the larger companies in our country regularly. But I've got no announcement or decision to make about what we can do. These are issues that will be debated over the next period of time, but there is no promise that we've made of any support."

Derek Simpson, joint leader of the Unite union said it was "disappointing" that no agreement on a rescue package had yet been reached. He urged the Treasury not to delay any longer in providing short-term financial assistance to the UK's ailing car industry.

"Government must establish a strategic funding mechanism for the car industry within days, not weeks. It was disappointing to hear the Prime Minister say earlier today that no agreement on a package has yet been reached.

"The urgency of the situation dictates that the Government must, however, do as it did with the banks and lose no time in intervening with vital assistance. It is simply no good bailing out the banks if the banks won't then bail out business."