Britain’s Brexit subsidies for carmakers could top wage bills

This is an interesting piece by Tom Bergin of Reuters – assessing the cost of ‘Brexit compensation’ in the wake of the government’s promises to Nissan.

Bergin writes:

Compensating carmakers in Britain for any post-Brexit tariffs on exports to Europe could see the government hand the companies more money than they need to pay the salaries of all their British workers, a Reuters analysis of corporate filings shows.

And goes on:

Kevin Farnsworth, a professor of social policy at the University of York who has researched and written extensively about government subsidies, said the cost would go beyond any previous support offered to British industries.

“A subsidy of this magnitude would be huge,” he said. “An ongoing commitment to subsidize a company would be unprecedented.”

 

 

Source: Britain’s Brexit subsidies for carmakers could top wage bills | Reuters