What's people's views on this £1.5bn loan guarantee from the government to JLR?
I have to say I am pretty mixed about it. On the one hand, we don't want to see JLR or a plethora of small suppliers go bust. But in the other hand, this is a problem entirely of JLR's own making. Hacks like this are largely avoidable and are invariably caused by inadequate IT standards or implementation. (I won't go into the details here, but there's a trade off between cost and security, and too often companies opt for lower cost.)
Anyways, JLR is a big company. If it is concerned about the viability of some of its critical suppliers, is it not up to JLR to decide if it's important enough to its own business, to support those suppliers? The hack is supposed to be costing JLR £50m per week in lost revenues. This is a drop in the ocean of it's parent's - Tata Group's - revenues. They employ over 1 million people and have revenues of around $500m per day.
They can easily afford to sort this out themselves without borrowing money off the government, i.e. taxpayer.
Is this another example of he government being taken for a ride, or to be welcomed?
Edit: Mrs Chippy_Boy reminds me that the UK government (i.e. taxpayer) has already bunged Tata a £500m grant for the Port Talbot steelworks developments. Tata is a vastly wealthy business. I wonder if they are laughing at us thinking the UK government is a soft touch?