LDV's management made afinal call to government for help today as the company faced almost certain failure.

It said a loan of £60 million would ensure the company can restart production and survive with a focus on electric-van maker.

"The cost of supporting LDV is small compared with standing back and letting it fail," said Guy Jones, LDV spokesman.

"The cost to the Treasury alone will be up to £53m in unemployment benefits and lost taxes in the first year, with the certainty in this environment of long-term unemployment to follow.

"Four thousand British jobs are at risk with over 1,000 in the Midlands region and many around Washwood Heath, which is already one of the highest unemployment areas in the country.

"In addition to the losses to the government, the economy loses over £200m of wages, purchases and export revenue.

"Alternatively for a loan of just £60m, LDV could be refinanced to create a profitable new business playing a leading role in the UK governments drive to transform the industry into a high-tech business reducing carbon emissions."

"We have one final chance to secure this vital piece of industry in the UK and thousands of jobs which otherwise will be lost forever."