Watch out for a negative Jaguar Landrover announcement today.
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Watch out for a negative Jaguar Landrover announcement today.
No one is forcing companies to work inside the EU. They do it because it's cheaper, it's convenient, it opens up a huge market.
It's a piece of piss to leave the EU. The problem is doing it without crashing the economy because so many businesses have prospered under it. They don't have a gun to our head, we could leave any time. Thankfully most MPs know that a no deal would be catastrophic.
It’s been widely reported that market uncertainty has had a significant effect on Thomas Cook due to Brexit.
It’s also well know that currency devaluation has played a large part in their problems, again due to Brexit.
I totally agree that Thomas Cook were still relying on an outdated business model, but the I believe spending the £200m was a risk worth taking to buy the company some time to reorganise itself, maybe by selling off the airline.
The difference between them and TUI is that they were more reliant on the UK market, which is exposed... because of Brexit.
There are far greater differences between the two than just markets. TUI has changed quite a bit to differentiate itself by essentially taking over hotels to generate brand loyalty (eg Holiday Village). Which was good management. TUI also has a lot less debt.
And your two arguments don't really hang together anyway ( being i) Brexit caused the failure; and ii) Govt should have stumped up £200m to tide them over until they sort out their business model). Brexit isn't going away so if that's a significant reason for failure why would giving them time to sort out their business model help?
Government not allowed to bail out companies like TC, EU RULES........
Now if we were not in the EU we could do what we wanted......
Yes it is.....the fact that other countries choose to sometimes ignore the EU rules is another matter.
Well...you can read:
https://en.m.wikipedia.org/wiki/Stat...uropean_Union)
and
https://www.pinsentmasons.com/out-la...n-to-state-aid
As for RBS......ask Mr Blair.....
No they don't......and Blair. Brown...both of the same mould.
I'm starting to think you aren't a reliable or neutral source
I am just stating facts.
Yes I am...just READ the links fully. If you think I am wrong, tell me on what basis...ie links that say individual countries CAN bail out companies.,f
they don't
You are wrong - the rules on state aid are usually used to stop states conferring an advantage to for example a manufacturer based in their borders at the detriment of competition to other manufacturers i.e. if we offered a subsidy on all cars made in the UK but not elsewhere in Europe.
Offering a secured loan to help an ailing business through a cashflow crisis wouldn't fall into the same category.
See also: https://www.bbc.com/news/business-49781920
and
https://www.independent.co.uk/news/b...-a9116536.html (if you wish to subscribe)
The "after many years of EU governments rescuing sensitive industries" line should give you a clue.
They absolutely could have done it if they had wanted to, there have been many precidents, but the UK and especially this government is very beholden to the idea of the efficiency of the market and favours letting things run their course.