The team currently known as Honda is in talks with the UK government in the hope of qualifying for a loan.

The team currently known as Honda is in talks with the UK government in the hope of qualifying for a loan.

Business Secretary Lord Mandelson has announced a multi-billion euro bailout package for the ailing car industry, and the Brackley based team confirmed it is set to apply for some of the taxpayer-funded help.

Asked whether the team qualifies, a spokeswoman for the Department for Business, Enterprise and Regulatory Reform (BERR) told the Guardian newspaper: "There is no reason why Honda Racing couldn't apply."

It is expected that any company in the automotive industry with a turnover of 27m euros or more, pledging to reduce carbon emissions and create jobs, will be eligible.

"All applications will be considered on a case-by-case basis," the BERR spokeswoman added.

 

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