Vauxhall is considering closing their Luton and Ellesmere Port factories (3000 jobs). The makers of the new electric car 'Thunder Power' investigated siting their new factory in the UK, but decided it was too risky, deciding on Spain instead. Nissan, who make up a third of the car manufacturing in the UK, have agreed to continue to invest in their Sunderland plant (7000 jobs) having been given unspecified guarantees by Mrs May - though with 'Dead Duck' May stumbling her way to the chopping block, they may decide to reconsider. How many promises has she kept so far?
The Federation of German Industries -representing 100,000 businesses - are basing their planning on an uncontrolled Brexit, saying, "there is no co-ordinated [UK] government approach". Half of EU businesses with UK suppliers are looking for alternatives.
We are losing direct investment too. Where we used to be the number one destination we are now number five, with current investors looking at cutting back. Ireland is a favoured new destination, English speaking and solidly in the EU, allowing access to the largest single market in the world.
Toshiba has had to buy out the last investor in the Moorside nuclear plant when Engie decided to pull out. As Toshiba's power plant business has collapsed they are desperately looking for alternate investors. Their prospects have not been enhanced by Mrs May wishing to leave Euratom.
Foreign investors are indeed taking advantage of the weak pound to buy up businesses, but clearly this does not create jobs, instead it is draining profits from the UK businesses into the pockets of overseas owners.
The clock is ticking. Businesses need to make investment decisions well ahead. Mrs May needs to tell us and them exactly what is going on.
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