"The Independent" declare : Toyota invests £240m in Derbyshire car plant but issues Brexit tariff warning

According to data from the Office for National Statistics published on Tuesday, January's rise was the biggest since June 2014. But the jump narrowly missed analyst expectations for a 1.9 per cent increase, just below the Bank of England's official 2 per cent target. In its latest Inflation Report, the Bank upgraded its 2017 GDP growth forecast to 2 per cent, up from 1.4 per cent in November. Shares in the US fell 16 per cent before being halted from trading, wiping $2.3bn (£1.88bn) off the company's market value. Alison Cooper received a total pay package of £5.5m in the last financial year, up from £3.6m the year before.


as mentioned in Japanese car giant Toyota has called for the UK to be able to continue to trade tariff-free with the European Union after Brexit as it announced a £240m investment in its only British factory. "Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success," he said. The investment also includes up to £21.3m of support from the Government for training, research and development and to improve the plant's environmental credentials. Toyota's investment will be seen as a vote of confidence in the UK despite fears that the car sector could be hit with punitive export tariffs after exiting the European Union. It comes at a tricky time for the British car industry, following concerns about Vauxhall's factories in Ellesmere Port and Luton after Peugeot's acquisition of General Motors' loss-making European arm last month, and concern about BMW's Mini plant in Oxford amid ongoing wrangling over the closure of its final salary pension scheme.


as mentioned in

Toyota to invest £240m to upgrade UK car plant for future output, Transport

[LONDON] Japanese carmaker Toyota said it plans to invest £240 million (S$413.7 million) to upgrade its car plant in central England for future output, but retaining tariff-free access to EU markets after Brexit remained crucial. Japanese carmaker Toyota said it plans to invest £240 million (S$413.7 million) to upgrade its car plant in central England for future output, but retaining tariff-free access to EU markets after Brexit remained crucial. Toyota builds the Auris hatchback and the Avensis family car at the plant in Burnaston in Derbyshire. "Continued tariff-and-barrier free market access between the UK and Europe that is predictable and uncomplicated will be vital for future success," he said. But Mr van Zyl warned that it was important for the government to secure unfettered access to Europe for British-built car exports as part of a Brexit deal.




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