Newspaper article The Journal (Newcastle, England)

'North East's Big Investors Would Suffer in a Brexit'

Newspaper article The Journal (Newcastle, England)

'North East's Big Investors Would Suffer in a Brexit'

Article excerpt

CHANCELLOR George Osborne has added his voice to warnings that leaving the European Union would damage North East manufacturing and exports.

He said quitting the EU would make it harder to attract investment such as the money Japanese firm Hitachi is putting into its train manufacturing plant at Newton Aycliffe, and could mean Nissan would be forced to pay a tariff when it exports cars manufactured in Sunderland. The Chancellor said the only way to avoid hurting manufacturers would be to sign up to a free trade agreement forcing the UK to obey the same rules as it does now.

Mr Osborne, pictured, said: "The North East has thrived by attracting big inward investment for car manufacturing and train manufacturing, most recently in Newton Aycliffe.

"One of the things that those who are advocating exit from the EU have to answer is what the alternative arrangement is for, for example, a large car factory in the North East. "Could it export its cars to mainland Europe without tariffs? …

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