The BBC reports that the chief executive of Renault-Nissan is “reasonably optimistic” the UK will be an important partner with the European Union, despite its vote to leave.
Carlos Ghosn said Nissan is not ready to make decisions on plans for its Sunderland plant, which employs 6,700 and that investment there depends on the outcome of UK-EU talks on Brexit.
Remember, in November he had warned Nissan would reconsider investment in the UK if Britain voted to leave the EU.
But now he is saying: “We are reasonably optimistic at the end of the day, common sense will prevail from both sides.”
Blame Project Fear not Brexit
An interesting read in The Daily Telegraph – it’s leader said the decision to cut interest rates is a significant policy consequence of Project Fear.
The piece goes on to say if Britain is indeed experiencing a dent in consumer confidence then it is not down to Brexit – for that hasn’t actually happened yet. Rather it is due to the pessimism of the previous government, the Labour Party, Barack Obama, global institutions, sections of the media and, of course, the Bank itself.
I will leave you to read the piece in full but one part did strike me – “People are looking for leadership to strengthen confidence and give a sense of where the country is headed. Theresa May’s government must make Brexit happen in a way that creates fresh opportunities for expansion.”
Housing market stays robust
The Week reports the housing market in the UK has stayed robust since Brexit.
Some may seize on signs of a post-referendum slowdown in the property market with figures showing a month-on-month fall in July.
However, The Week reports that as with all data in the relatively short period since the Brexit vote, the trend is not as simple – or negative – as this might suggest.
It says: “Halifax cautioned that monthly numbers can be erratic and that falls often occur within an upward trend. It prefers instead to focus on three-month rolling averages, which it compares with the previous month and year.
“In this light, house prices in July were robust, it said. Prices rose 1.6 per cent in the three months to July compared to the three months ending in June, representing acceleration in growth from the 1.1 per cent for the three months to May.”
Leave the EU no and watch Britain boom
The Cardiff University professor called on the Prime Minister to “save us all time” and walk away from “the EU lock, stock and barrel”.
And he also said the Government should focus on scoring trade deals with countries across the globe, which could lead to economic growth of up to four per cent.