Brexit: Ford warns UK it will take ‘whatever action is needed’ after profits drop 0

Ford has warned the UK that it will take ‘whatever action is needed’ after uncertainty caused by Brexit caused profits to dip by £760 million.

The US car giant has not held back in its accusations that the UK’s decision to leave the EU is the reason for the loss of EU revenue; confidence in the country’s continued status as a leading hub for car manufacturing has plummeted since the referendum and the subsequent inability by the UK government to come close to reaching any sort of exit deal.

Should no deal be reached, the importing of components required for the manufacturing of vehicles could be subject to tariffs, something neither Ford, or any of the other major UK-based car manufacturers are likely to tolerate.

Confidence in the government’s chances of reaching a satisfactory Brexit conclusion has reached an all time low. A recent poll carried out by BMG Research last week found that 48 per cent of the public would now back a vote on any deal struck between the UK and the EU – up from 44 per cent just four weeks ago. Just 24 per cent opposed the idea, down three percentage points over the same period.

 

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