The skill and business acumen of the present Government is such, that they negotiated to give another 150 millions, to keep the jobs at Rover, which was losing 2 millions a day, with a huge stockpile of unsold cars blocking the factory, for all to see.
They were surprised to learn of the sale of Landrover for 1.6 billion for starters. Surely even they should have realised, that asset stripping was the main reason for BMW's purchase of the old fashioned Rover group in the first instance.
BMW told our Prime Minister that one of the main reasons for their selling was due to the fact, Britain had not fully joined the European Union and the Euro currency. In accepting that story we hope it is not a Labour ploy to stampede Britain into that Union and currency. They also told him that the strong pound had made it that much harder to sell Rover cars. (Cutting their price is a well known selling point.)
Trying to blame the so-called 'Strength of the pound' for our woes in the car manufacturing market, farming and all our ills, turns the facts on their heads. The pound is not strong. It has fallen from 1.67 to 1.57 dollars to the pound, over the past twelve months. The problem is, the Euro is a disaster for its users who have seen their income, assets, wealth and buying power eroded with its decline, and an embarrassment for the politicians who invented it.
However the alleged 'Strong pound' has not deterred the manufacture of BMW products with our cheap labour and rate free factory, whilst its owners laugh all the way to their bank to convert their pounds into Marks, at the expense of Britain's former sell off, of its family silver!
MR. V. LESTER
Liskeard