LORD Mandelson admitted he was “perplexed” by hold-ups in talks backing European funding to help Jaguar Land Rover (JLR).

But he added he was now “impatient” to resolve the issue with JLR owner Tata to confirm a 340m euro loan from the European Investment Bank (EIB).

And he revealed he has postponed his holidays to bring matters to a speedy conclusion.

Government approval is needed to underwrite the EIB loan to ensure JLR can continue to trade through the worst business conditions in generations.

But it was claimed the Government had demanded a place on the board among a series of moves in return for backing the loan.

Last week, JLR announced 300 job losses at its Halewood plant and early cessation of its Jaguar X-Type model because of the uncertain market.

But, during yesterday’s visit to Ellesmere Port, Lord Mandelson told reporters: “My officials, as we speak, are holding talks with JLR and Tata and I would anticipate these coming to a conclusion in the next day or so.”

But he added: “We are looking to Tata to put their money on the table, bearing in mind what I am offering is tax- payers’ money.”