The Department for Business Enterprise and Regulatory Reform, on 27 January 2007, announced a package of measures intended to assist the UK's automotive industry. The support would take the form of loan or loan guarantees, increased funding for training and guarantees for European Investment Bank funding for lower carbon initiatives. The aim is not simply to support the industry during a difficult financial period but to assist companies reduce emissions and reduce energy consumption. Before the measures are put into place, they will have to be approved by the European Commission. The Government intends to seek approval under the Commission's new temporary "State aid Guidelines for assistance to the real economy".
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