Almost one quarter of public sector contracts awarded in 2018 went to sole bidders. The Financial Times reports that the number of contracts awarded without competitive tender rose to 23 per cent in 2018. In 2016, […]
Amazon is set to receive around $4.6 billion in corporate welfare from the US taxpayer, reports Good Jobs First. These subsidies are used by states to entice Amazon to locate operations and investment within their […]
In our 2017 company report, we revealed that Nissan UK had received £800 million in corporate welfare from the UK government. The Nissan case shows a pattern of transnational corporations either getting the deal they […]
Higher EU agricultural subsidies helped the farming business of Sir James Dyson to make a profit for the first time last year. Beeswax Dyson Farming generated a pre-tax profit of £747,000, compared to a loss […]
The UK Government is planning major changes to how farming is conducted and how farmers are paid. Legislation introduced to Parliament on 12 September would replace payments linked to land with funding for providing “public goods”. […]
The UK Government recently announced that it will reorient its development programme so that it more directly supports UK national interests. Speaking in Cape Town on 28 August 2018, Teresa May outlined a “fundamental strategic […]
Jaguar Land Rover, a company that has received more than £127m in corporate welfare since 2005, announced on 13 April 2018 that it is cutting 1,000 jobs at its Solihull plant in the West Midlands. […]
Didier Leroy, executive vice-president of Toyota, called on the UK government in late October to provide insight into Brexit negotiations and secure a trade deal for the UK automotive industry. He voiced his concerns amid […]
Phil Bicknell, Market Intelligence Director of the Agriculture and Horticulture Development Board (AHDB), today claimed that Brexit threatens to reduce UK farm incomes by as much as 50 percent. Speaking on BBC Radio 4’s Today programme, […]
Nissan first invested in the UK in the early 1980s following protracted negotiations over the deal it could extract from the British government. Declassified memos from the Thatcher administration paint a picture of a company of […]
Many of those who voted to leave the EU would have been encouraged to do so in order to ‘take back control’ from Brussels. Few voted leave in order to starve public services of funding, […]
Capitalist economies depend on private business investment, and all governments in similar states compete to induce businesses to invest through various policy interventions. In so doing, they compete with other governments to retain current investors […]
The UK’s exit from the EU represents a tearing up of the informal contract that exists between multinationals and the UK government. Companies put their money into Britain based on cheap, tariff-free market access to […]
The Guardian reports that the Irish Business and Employers Confederation (Ibec) have asked the Irish government and the EU to support Irish businesses with as much as €1bn in state aid to offset the instability and […]
Two of the largest German industry groups have warned the UK that German industry will not help to secure post-Brexit trade deals. Rather, they stated, their priority will be protecting the single market for the […]
The Financial Times reports that investment in the UK car industry has plummeted since the June 2016 referendum, having fallen to £322m during the first half of 2017, according to industry data compiled by SMMT. Investment during 2016 within […]
Irish authorities reported that they have secured deals with many London-based banks and financial institutions to move some aspects of their operations to Dublin prior to Britain’s exit from the EU. Kieran Donoghue, head of […]
In February 2017, Colin Lawther, senior vice president for manufacturing and purchasing for Nissan UK, gave evidence to the House of Commons International Trade Committee, explaining that the UK leaving the EU without an adequate trade […]
Daniel Boffey for The Guardian reports that carmakers operating in the UK have significantly decreased investment over the last year due to concerns fueled by the uncertainty of what post-Brexit trade looks like for the British […]
Sylvie Matherat, Deutsche Bank’s chief regulatory officer, said that the bank may be forced to move 2,000 front office jobs to EU nations after Brexit and that an additional 2,000 jobs could be at stake. […]
Goldman Sachs has announced that it will begin moving hundreds of staff from London to Frankfurt and Paris prior to the UK’s exit from the EU as part of a contingency plan. Richard Gnodde, chief […]
The head of European manufacturing at Nissan has given evidence to the International Trade committee this week. It provides a glimpse into the way in which Brexit will divert energy and resources to the largest […]
GM has apparently promised to continue investing in the UK. The desperation of the British government to retain investment, coupled with the increased bargaining power of transnationals, will inevitably redirect government funding and attention towards capital. The […]
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 […]
Sky News’ account of Nissan’s Brexit deal Sky’s Ian King examines the potential avenues the Government had to reassure Nissan ahead of its important Sunderland investment. Source: Nissan investment raises more questions than answers
Copyright: Corporate Welfare Watch 2017