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Jaguar Land Rover call for interest rate cut

Jaguar Land Rover has asked for a one per cent cut in interest rates.

The company’s chief executive David Smith said a dramatic cut in the Bank of England base rate was an “absolutely vital” economic stimulant, according to the Birmingham Post.

The luxury carmaker made the call after planning to shed up to 400 more jobs at its three manufacturing plants, bringing the total number of lay-offs to 600.

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