Could JLR be nationalised?

I reported in this column two months ago that JLR was burning over £1bn a month during the lockdown, and I wondered how long this could last before the company’s cash reserves run dry. Well, now we know. Sky News has revealed that JLR has been in discussion with the government about ‘temporary state funding’. Some commentators have suggested the company might need as much as £2bn. JLR has already borrowed £700m from a group of government-owned Chinese banks.

The Bank of England has a loan scheme for large companies but JLR’s credit rating is now