Monday, October 16, 2017

Vince says Vauxhall should be given reassurance

Following the news that Vauxhall is to shed 400 jobs at its Ellesmere Port plant, Liberal Democrat leader Vince Cable said ahead of a Commons debate on the subject that the government must give the car manufacturer assurances over the single market:
 
“As Business Secretary in the coalition I put in place measures to keep Ellesmere Port open protecting against the loss of 2,800 British jobs. Vauxhall has been making cars in the UK for over a century and is a significant employer. 
 
“We need Vauxhall to continue to make cars in the UK. The company has said that its future investment here is on hold until the government can give greater clarity on the UK’s trade with the EU post-Brexit.
 
“So every worker receiving a P45 will know that government in-fighting is hitting Vauxhall investment. It is time the government gave the assurances manufacturers need that Britain will continue to have full access to the world’s largest market.

"Given that foreign investment has fallen from a £120bn a year surplus to a £25bn a year deficit, the government needs to wake up fast to the rising level of concern in the business community about the state of the British economy.”
 
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