The 362,000-member US National Taxpayers Union (NTU) has urged governments abroad to reject GM’s pleas for finance to prop up its operations and criticised the use of US taxpayers’ money to support overseas operations.
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NTU Vice President for Policy and Communications Pete Sepp said in a statement that following GM’s efforts to raise finance from European governments, ‘now we learn that GM may spend some of the US$50bn in US taxpayers’ money to prop up this European car company [Opel/Vauxhall]’.
He pointed out that GM is investing abroad at a time when it plans to lay off 21,000 U.S. workers this year.
“It’s all well and good when a US-based company decides to do business in other countries. It’s a choice that managers and stockholders make every day. But did American taxpayers, who were forced to become shareholders in GM, really sign up to pay for all these overseas activities? Did anyone ask them?” he said.
