Falling standard of living will go on unless PM gets Brexit right
Is Theresa May out of her depth or is she just the worst communicator ever to be Prime Minister?
Recently the PM met a deputation of Japanese business leaders worried about Brexit. Starting the meeting she fumbled with her notes several times and told the deputation not to be concerned about Brexit because the UK and Japan would negotiate a wonderful trade agreement.
It was an embarrassingly weak, poorly delivered and uninformed statement.
She didn’t seem to understand that Japanese companies have invested heavily in the UK to sell into the EU. Toyota will not be manufacturing cars in Derby to ship back to the Far East!
Japanese companies manufacture in the Far East to sell to the Far East, manufacture in the UK to sell to the EU. The Japanese like the UK, want to be here. But as the Japanese ambassador said at the end of the meeting – Japanese companies have to make a profit to stay in the UK.
If we make the wrong decision, come out of the Customs Union, then the tariffs on Japanese products will make them more expensive in the EU – not good for business.
I have had experience of working with Japanese companies, they are always very dignified and never embarrass their hosts, but don’t be fooled by that.
Those businessmen will be unconvinced by Theresa May and will be making their contingency plans – to invest in the EU instead of the UK in future.
Already, with our stance on Brexit, foreign direct investments into the UK have fallen off the cliff – down 90 per cent in the first full year since the Brexit vote.
Margaret Thatcher told Japanese companies that it was safe for them to invest in the UK as ‘it is inconceivable that the UK would ever leave the EU’ – the Japanese feel let down and will not forget.
If Theresa May and her cabinet don’t start making the correct decisions then our falling standard of living will never recover. The PM must make the correct decisions now in the best interests of the UK people instead of placating the divided Tory party.
Bill McClements, Apley