British Government to bail out Honda Racing?

As the Honda racing saga continues, reports emerging from Britain indicate that there is a chance the Government may come to the rescue with part of a 2.3 billion pound bail out of the car industry possibly being used to aid the situation.

"We have had meetings with BERR (Department for Business, Enterprise and Regulatory Reform) over the future of the team on several occasions over the past month," the Guardian quote the Brackley based squad as saying.

"There is no reason why Honda Racing couldn't apply,” a spokesperson for BERR told the Guardian. “We expect any company in the automotive industry or in its supply chain with a turnover of £25m or more to qualify [for the loans] if it has a viable project to deliver the objectives of the support package. All applications will be considered on a case-by-case basis."

With 700 jobs on the line and an annual turnover of 200 million, it appears as if the team actually qualifies for assistance.

Source: f1.automoto365.com