United States banks, which were some of the biggest donors to the Remain campaign with Goldman and JP Morgan both donating £500,000, are concerned that Britain’s exit from the European Union it will mean UK-based staff will longer have access to the “passporting” system that allows banks to sell services freely across the EU.
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Nissan boss Carlos Ghosn has said the company’s future investment in its Sunderland plant depends on the negotiations surrounding Brexit.
Ghosn said most companies would want to see what was going to happen in trade and other talks between Britain and the European Union before making decisions about future investment in Sunderland.
“The priorities I have set: a more productive, skilled workforce, an economy balanced across the United Kingdom and open to new opportunities, can only be achieved if we listen to these businesses”.
Nissan’s Sunderland plant in the north of England built almost one in three of Britain’s 1.6 million cars previous year and has been lauded as one of Europe’s most efficient facilities, where it builds the popular Qashqai sport utility vehicle.
The US is evenly split, with 32 per cent saying the United Kingdom will be weaker but 33 per cent saying the United Kingdom will be stronger.
Prime Minister Theresa May will meet small and medium sized enterprises to discuss how to create a more productive, higher skilled economy.
At the time, the Japanese company declined to comment on the British people’s choice and the implications, but previously made it plain Remain was its preferred option for jobs and trade.
The boss of Nissan, which employs 6,700 auto workers at the plant in Sunderland, was speaking just 24 hours after new vehicle sales figures showed previous strong growth had come to an abrupt halt in July amid uncertainty following the European Union referendum vote. The Sunderland plant built almost one in three of Britain’s 1.6million cars previous year.
Goldman, which did not break down its exposure to the European Union or the United Kingdom, said the timing and outcome of Brexit negotiations were highly uncertain.
“I very much hope that Nissan will stay in Sunderland and continue to invest in and expand its Washington plant”.
“It is vital the United Kingdom remains in the single market or, at least, some free trade relationship is quickly established with the European Union”.
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Chief executive of the North East Automotive Alliance said: “The automotive sector operates on a global scale”.
