French car manufacturer PSA, owner of Vauxhall Motors will cut its UK production in favor of a new plant on the Continent if Brexit negatively affects profits, according to CEO.
CEO Carlos Tavares told the Financial Times that the company would build its Vauxhall and Opel Astra cars – currently made in Ellesmere Port in Cheshire, England – in southern Europe if the UK does not leave the EU on favorable terms. More than 1,000 workers can lose their jobs if the facility is closed.
"Frankly, I'd prefer to say it [the Astra] in Ellesmere harbor, but if the conditions are bad and I can't make it profitable, I have to protect the rest of the company and I don't want to," Tavares said in interviewed, published late Sunday. "We have an alternative to Ellesmere Port."
The comments came when the Confederation of British Industry (CBI) warned in a new report that neither the UK nor the EU is fully prepared for a Brexit without an agreement on 31 October.
“Brexit without outstanding character means that some aspects cannot be curbed. We can reduce but not eliminate the damage without agreement, "CBI's vice president Josh Hardie said in a statement. It's not just about queues in the ports; The invisible effect of interrupting overnight trading will damage businesses across the country. "
Separately, the Department of Government warned in a new separate report that the fallout from an inalienable departure would consume the British government for the foreseeable future."
"Instead of" turbocharging "the economy," as the new Prime Minister Boris Johnson has suggested, "the government is more likely to give money and support to businesses and industries that have not prepared or are worst affected by a Brexit without agreement – in addition to dealing with UK citizens in the EU, and EU Citizens here, who have been caught in a similar way, "claimed the report.
Britain supports an increasing likelihood of Brexit not getting any deal, with Johnson having promised to take the UK out of the EU" do or d ie ". by October 31.