Has this even been mentioned once, or does it not fit in with the rhetoric?

I’m sure it fits with the rhetoric, given that they may have been given a similar deal to Nissan, but we’ll never know as even FOI requests have been ignored….

And public borrowing down by a large chunk is a sideline on BBC Business…

http://www.bbc.co.uk/news/business-39336980

…but inflation up is a headline on BBC home page.

It’s a savvy move by Toyota – I’m sure they spent a long time considering it.

If we stay within the free market they have a plant in Europe (for all intents and purposes) paid for with a devalued currency.

If we leave they might have to suffer a higher import tariff for Europe but we be likely off-set by a further devalued currency.

I suspect, like ‘The City’ Toyota have been briefed by Westminster to a far higher degree and in far greater detail than the press are. Last I heard the Banks are banking on us leaving the Single Market, but having an trade deal with Europe that’s all but the same thing, just under a different name with free movement of workers from existing members only.

How good / bad news that it is depends on what you want for the UK – another 30 years of a London / Finance centric economy with the rest of the UK in the ‘service industry’ or a more industry lead economy like we had in the past (massively over generalisation of course).

The inflation rise is very on-rhetoric devalued £ forces up prices of imported fuel / food, it’s not a result of increased wages, far from.

Was it £240 million? That would buy you a something like an assembly line for a new model in an existing plant, or an engine machining and assembly line. It wouldn’t have made headlines if it wasn’t for the government needing to shore up confidence/business credentials or whatever in the face of Brexit uncertainty.

Which could be crated up and shipped off to mainland Europe within 6 months if business conditions changed

6 months?

Having visited slightly more than a couple of engine plants through the years i reckon with a nice modern one it’d be more like 3 months if you had the building ready to put it into.

Think the original spend at Burnaston was about £700 million. Probably including a big fat cheque from the EU………

Just have to wonder what sort of a sweetner they got.

More good news although in the inerests of balance thats a small number in terms kf car investment.

Nissan have been given no deal.

We export £15bn in cars and import £40bn its a complete no brainer for the EU to agree a free trade deal on cars/components

Personally I think the UK should be pushing hard for a free trade deal in cars with Japan in return for investment / tech sharing on hybrids. Apple was recently rumoured to be interested in McClaren for their electric tech.

As much as I like (love) German car styling the Japanese make a much more reliable product amd have a big lead in Hybrids as Europeans have focused on Diesel 😐

The problem in the past was we had an industrial led economy paid for by the taxpayer, that couldn’t stand on its own feet and compete with newer more progressive economies. I can’t think of one large industrial entity that is successful and home grown i.e. British owned and ran. Can anybody else?

I welcome all Toyota car investments … 😛

I can’t think of one large industrial entity that is successful and home grown i.e. British owned and ran. Can anybody else?

JCB?

Aggreko. Weir pumps?

Rolls-Royce and BAE Systems

would be interested to know how the Nissan and Toyota deals stack-up against EU state aid rules? Besides, there’s significant global over-capacity in the automotive sector, the threat of substitute technology that this is more a move to passify the “northern” vote than any element of sustainable, industrial strategy IMO

is rolls royce (Aero) and BAE not uk owned and run?

The announcement fits perfectly with the rhetoric as it included

“Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success.”

R-R and BAES are both UK based and listed with significant UK government shareholdings as a consequence of previous Governments nationalisations / bail-outs, fortunately a bit more successful that their attempts to prop-up the car industry.

I can’t think of one large industrial entity that is successful and home grown i.e. British owned and ran. Can anybody else?

There where many GKN, BRITISH RAIL Leyland truck and bus,English electric, car companies, truck companies, ALBION FODEN, ERF, SCAMELL,etc, Pilkingtons, ICI, British Steel,Raleigh cycles and so many more, that fell by the wayside of capitalism and lack of investment.

JCB?

Larger UK presence than world wide due to the competition generally being better made.
We won’t know short term what deals or assurances were made to the car companies (if you claim you know then your either sat at the table or reading the docs)
Nissan didn’t matter the lifespan of the investment window will mostly be pre Brexit so the devalued pound helps sales with cheaper labour costs to an extent.
Toyota already has a significant investment in the UK and hedging a bet by remaining in the short term (car models change and suitible plants change) is something they are prepared to do, there will be a very detailed economic plan with all the variables and they will have known what works and doesn’t before they met the government. Which would probably have shocked the government as they appeared to have run out of fag packets for their detailed calcs…

We export £15bn in cars and import £40bn its a complete no brainer for the EU to agree a free trade deal on cars/components

It’s all part of the negotiations, if the UK doesn’t get a good deal on importing components and the UK car industry fails it benefits Europe more, the sale of Vauxhall to Peugeot will probably shortened the life of those plants.
If I was negotiating for the EU I would be aware of how much auto capacity was available in the EU and if the UK really really wanted this I would be looking for concessions elsewhere. Anyway a lot of this is academic as unless we have some sort of access (Norway/Switzerland style deal) negotiated in the A50 talks we have nothing until the resulting trade deals are negotiated after A50.

would be interested to know how the Nissan and Toyota deals stack-up against EU state aid rules?

There has been no “deal” – Nissan where told the UK is committed to free trade and securing a deal for car manufacturing is a key objective (see TM’s 12 point letter). As per my post above we export £15bn in cars and import £40bn – deal in very much in the EU’s interests too.

Mike if the EU buggars us around we’ll sign free trade in cars directly with Japan and probably the US. The loss in sales due to tariffs on EU cars would hurt the French/Germans very badly.

Mike if the EU buggars us around we’ll sign free trade in cars directly with Japan and probably the US. The loss in sales due to tariffs on EU cars would hurt the French/Germans very badly.

Which cars produced in the US or Japan are of most interest to you? How does one go about signing a free trade deal overnight on single issue? What would the US or Japan want in return for this?

Your confidence is admirable but hollow.

There almost certainly has because there almost always is.

And with the current uncertainty about Brexit, i’d guess that the likelihood of a sweetener of some description is significantly increased.

The UK can be as committed to free trade as it wants, but if it’s outside the EU, it’s not guaranteed.

Strange concept ‘UK owned’ nowadays (for listed companies).
RR’s majority share holder is ValueAct (US based) so one nation does not ‘own’ the company.

The governments stake in BAE and RR are a golden share – they can veto / have an interest in who runs the company. This used to mean they had to be a U.K. National, but this has since been relaxed (either CEO or chairman must be a U.K. National). I’m not sure the government owns a holding in either company in the traditional sense.

Jamba of course there is a deal and its terms are fairly obvious. the deal is to subsidise the car plants to the extent of their losses due to leaving the EU – and Nissan have made it 100% clear that without a tarrif free access deal they will be off anyway

jambalaya – Member

There has been no “deal” – Nissan where told the UK is committed to free trade and securing a deal for car manufacturing is a key objective (see TM’s 12 point letter).

POSTED 8 HOURS AGO # REPORT-POST

And the blind “facts” keep flowing.

You would have thought you’d learnt by now.

Project you’ve just made my point. Lack of investment (subsidy from taxpayer?) Or lack of investment from private equity sources. Either way couldn’t stand on their own feet in the market place. I would tend to think a lot of that was down to inept management as well. I suppose the government with the subsidies and tax breaks are indirectly supporting jobs and wages through this.