Ministers have stepped in to provide an emergency bailout to Jaguar Land Rover after the motor manufacturer was left reeling by a massive cyber attack.
Chancellor Rachel Reeves has announced that she will provide the motor giant a £1.5bn loan guarantee to give it time to recover from the attack and protect the companies in its supply chain which have also been hit hard.
The move comes as Labour opens its conference in Liverpool with Keir Starmer and his government under pressure to show they can govern effectively.
Ms Reeves said: “Jaguar Land Rover is an iconic British company which employs tens of thousands of people – a jewel in the crown of our economy.
“Today we are protecting thousands of those jobs with up to £1.5bn in additional private finance, helping them support their supply chain and protect a vital part of the British car industry.”
[SRC] https://newswav.com/article/jaguar-land-rover-cyber-attack-reeves-issues-1-5bn-loan-guarantee-to-rescue-A2509_UZkECo
