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UK govt denies special Nissan deal

Friday, October 28, 2016 - 01:06

Britain's business minister said he had not opened the ''cheque book'' to secure a major new investment in the country's biggest car plant by Japanese carmaker Nissan, an announcement which was hailed by the government as a post-Brexit endorsement. Saskia O'Donoghue reports.

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SOUNDBITE (English) BRITISH PRIME MINISTER, THERESA MAY SAYING: "We've been assuring Nissan and others that we are committed to getting the best possible deal from the future relationship that we will be negotiating with the European Union." Theresa May explaining Nissan's deal with her government to keep investing in the UK. The Japanese giant had threatened to quit over Brexit worries. Now it will stay, but what exactly has the company been promised? Rival carmakers, and taxpayers, would like to know. SOUNDBITE (English) CITY INDEX MARKET ANALYST, KEN ODELUGA, SAYING: "Are we going to offer similar deals to the next manufacturer? We need to be in a position that we can actually bring about these deals without having to shell out for it and adding to our deficit." Jaguar Land Rover immediately saying it would like the same assurances, whatever they may be. Ford calling for a level playing field for all carmakers. And other sectors are watching too. Financial services are Britain's biggest export, and major banks would also like some support. Ministers so far resisting pressure to release details of the Nissan agreement. With a queue of other companies forming at the door, that position may prove hard to sustain.

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UK govt denies special Nissan deal

Friday, October 28, 2016 - 01:06