Newspaper article The Journal (Newcastle, England)

Nissan Tops the List of Subsidised Businesses

Newspaper article The Journal (Newcastle, England)

Nissan Tops the List of Subsidised Businesses

Article excerpt

Byline: By Guy Anderson

Nissan has been revealed as the most subsidised business in Britain, attracting almost pounds 100m of public money.

A list of the 10 biggest grant recipients in the UK shows four in the North-East as the debate continues over the future of Government aid after a radical revamp of the system.

The scheme which brought multinationals Nissan, Siemens and Fujitsu to the North has been revolutionised to favour smaller businesses.

The Japanese car company ( which employs 4,500 people and celebrates 20 years on Wearside today ( has received pounds 97m in state aid, putting it top of the list of most-subsidised companies.

However, the Regional Selective Assistance which brought Nissan to the region ( along with prominent failures Siemens and Fujitsu ( was scrapped last April and replaced with Selective Finance for Investment.

Thirty-five smaller enterprises have been given pounds 4m through the scheme in the past six months, creating 775 jobs. …

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