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U.K. Claims No Liability in Brexit Assurances to Nissan
The head of U.K.’s National Audit Office says the country faces no liability if Nissan Motor Co. investments in the U.K. become less competitive after the country leaves the European Union.
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The head of U.K.’s National Audit Office says the country faces no liability if Nissan Motor Co. investments in the U.K. become less competitive after the country leaves the European Union.
In October Nissan CEO Carlos Ghosn announced two new vehicle programs for the company’s plant in Sunderland, England, shortly after meeting with Prime Minister Theresa May. Ghosn said the meeting left him confident that the government would ensure that the factory “remains competitive.”
The details of the business ministry’s subsequent assurances to Nissan haven’t been made public. But audit chief Amyas Morse, who has reviewed the documents, tells Parliament he is satisfied “there is no identifiable contingent liability” involved.
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