Britain is propping up its auto industry with $3 billion because…wait for it…the UK auto industry adds $14 billion of value to the economy and employs 1 million people. That sounds familiar.
The money will go towards research and development aimed at lowering carbon initiatives, loosening credit and training employees.
We don’t want to be the kettle calling the pot black here, but seriously, England? Does your auto industry really need a bailout that badly? Jaguar Land Rover will be getting the majority of the cash and according to the Economic Times, “JLR doesn’t even know how the package will help.”
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.