As a backdrop to US car company Ford closing their plants in Dagenham and Southampton — with the lost of 1,400 jobs — George Osborne okayed a EU loan to help them move production to Turkey, the New Statesman’s Rowenna Davis pointed out earlier today.

The decision to close the two UK plants caused outrage when it was announced last month, not least because MPs and BIS seemed to know nothing about the decision until it was announced. But now it seems that Ford have been granted an £80m loan to build a new transit van in Turkey, by the European Investment Bank — on the board of which George Osborne sits.

This, presumably, is the same George Osborne who in regards to the EU budget negotiations said last week:

“We’re not going to accept a deal that’s not good for Britain. There’ll be a simple choice, deal or no deal. We’ll only do a deal if it’s good for Britain.”

Scrapbook isn’t sure how paying Ford to export British jobs abroad constitutes “a good deal for Britain”.

  1. Well, par for the course from this lot to be honest.
    Who really expects anything else except sneakybeaky smoke and mirrors?

  2. I’ll never be an apologist for this shower, but the truth is that whoever is elected the government has long-term stakes in venture capital firms like 3M that have been buying up UK industry and moving it offshore for years, e.g. William Baird which became Praxis Tailoring in the late 90’s and then moved to Romania.

  3. Not sure what the EU has to do with this. Romania didn’t join until 2007 and Turkey isn’t a member at all.

  4. very easy this is the “EU bank” for which Osborne gets dragged along (as all other EU ministers in his position) and has to abide by the majority like much of EU voting …

    and you would have thought that the “EU bank” so beloved by New Labour would lend to only EU ventures .. not so, recently it has lent to “pet projects” (driven by EU “foreign policy”) as far away as Vietnam !

    The “get used to it” comment .. dig out last weeks FIAT analysts briefing highlighting the END of anything other than top end and niche motor vehicles in Western Europe … and it won’t stop at cars …. thats one of the major reasons the “EU bank” are making loans to the new “china” (low cost low end manufacturer) .. it may as well make a quick buck as manufacturing transfers out of the EU to the likes of Vietnam …

  5. Is the European Investment Bank a part of the E.U if the loan is to move to Turkey? Bit confused.

    Fact of the matter is, if Osbourne did ok a deal to move U.K jobs abroad then he should be ashamed of himself. How can people lose their jobs simply because the company moves abroad? Oh, yes, right. Another ploy to bust the organised union workers of countries like the U.K.

    One day all the workers of the world will have Unions, then there will be nowhere else for these companies to run and hide to.

  6. Scum in the first order hang your heads in sham and leave the country before you distroy it for ever

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