Brexit victory dismantles Remainer nonsense – economic expert tears apart scaremongering

Brexit: Boris Johnson given 'misinformation' says Mummery

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Earlier this year the Japanese car maker announced another £500 million in spending for its Sunderland plant. It is now reportedly in advanced talks to build its biggest electric car battery factory outside Japan on the site.

According to the Financial Times, Nissan could boost could expand its existing battery manufacturer to produce 200,000 units per year.

The paper claims Kwasi Kwarteng, the business secretary, had a Zoom meeting two weeks ago with Nissan chief operating officer Ashwani Gupta.

Nissan is requesting hundreds of millions in state assistance to back the project.

This could come from a £500 million budget created by the Government to back electric battery production.

The UK is to ban the sale of new non-hybrid petrol and diesel cars from 2030 in a bid to cut carbon emissions.

If confirmed the new battery factory could open in 2024 creating several thousand new jobs.

Sunderland voted to leave the EU in June 2016 by 61 percent of the vote to 39 percent.

It was one of the first results to be announced, triggering a dramatic reaction in world financial markets.

Writing for the Daily Telegraph Kate Andrews, The Spectator’s economics editor, noted anti-Brexit activists warned of Nissan “Armageddon” at various stages during the EU exit debate.

She wrote: “Years before an EU referendum was offered to the public, there were warnings that a vote to leave the political bloc would put Nissan’s operations in the UK at risk.

“Almost immediately after the vote, there were calls for close alignment with the EU (or government subsidy to make up for any economic hit caused by Brexit) to keep investment rolling in.

“Last autumn reports circled that the Sunderland plant was at risk of closing, with the decision to build the Qashqai model in Britain put on hold, in case Boris Johnson opted for no deal instead of a bad deal.

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“Yet despite the doomsday narratives constantly promoted, the football has more or less only moved in one direction: to the benefit of the UK.

“The timeline of catastrophic predictions could be chalked up as hilarious, if they hadn’t been looming over thousands of workers in the Sunderland plant for years (and an additional 70,000 workers connected to its supply chains).”

Earlier this year Gianlucca de Ficchy, Nissan’s European boss, insisted the company has “full, full confidence” in the UK.

He added: “We have been the guys continuing investing in total uncertainty during 2020, in which we were clearly saying ‘we are investing for the launch of new vehicles’.”

Nissan already employs around 6,000 people at is Sunderland facility, with many more jobs supported by its supply train.

Three million Qashqai vehicles are produced in Sunderland each year, about 60 percent of the global total.

Mr de Ficchy admitted there is “no short-term alternative to Sunderland”.

He added: “A plant is not something you just move, you have an entire ecosystem that goes around the plant”.

Earlier this month Mr Gupta suggested Brexit could be a positive for Nissan in the UK.

The executive explained: “Brexit gives us the competitive advantage in the UK and outside.”
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