UK Government set up £16m fund to help automotive suppliers affected by closure of Honda plant.

A programme is being launched to offer support to small & medium-sized businesses throughout the country with strong links to the closure of Honda’s car factory, which was announced in February.

Business Secretary Greg Clark made the announcement during a meeting of the task force which was set up to try & save the Swindon based plant. He stated that “All of us on the Honda task force are determined to keep pressing the case for Honda to remain in the UK, while at the same time continuing to promote Swindon globally as a leading region for advanced manufacturers to invest in – with the expert companies in Honda’s supply chain a key part of Swindon’s offer.”

“In support of the Honda and UK-wide automotive supply chain, I’ve launched a new £16 million programme designed to specifically support SME businesses in the automotive supply chain. We design and manufacture world-beating components and technology solutions and this new program will ensure our supply chain sector remains at the top of their game, both here in the UK and internationally, by keeping up with the latest technological developments, backed by dedicated support and advice to make the most of our supply chain expertise and specialisms.”

Suppliers will be able to receive advice & help with business loans, training of staff, as well as helping to evolve their products & processes.

With the government & stakeholders working together to try & persuade Honda to continue in the UK, there is still optimism from the unite union that there is a viable future for the work force.