UK factories and at least 40,000 jobs are at risk if the country leaves the European Union without a free trade agreement, warned Britain's largest automaker [Jaguar Land Rover (JLR)]. heart and soul "are in the UK, a bad Brexit could force a rethink, with a dead end scenario forcing him to leave the UK due to an expected hike of 1.2 billion pounds sterling tariff costs
JLR exports 80% Dr. Ralf Speth, Managing Director of JLR, said: "… We, and our partners in the supply chain, face an unpredictable future if the negotiations Brexit do not maintain free and friction free trade with the EU and unlimited access to the single market.
"We need more certainty to continue to invest heavily in the UK and protect our suppliers, our customers and 40,000 UK employees."
There are also 260,000 additional jobs related to the supply chain of the company
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Dr. Speth added:" A bad deal on Brexit would cost Jaguar Land Rover has over 1.2 billion pounds of profits each year.
"As a result, we should drastically adjust our spending profile."
"We have spent about £ 50 billion in the UK over the past five years, with forecasts of another $ 80 billion over the next five years."
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Image: JLR warned that jobs are threatened by a bad Brexit deal
He was more specific about a possible exit from the UK in comments to the Financial Times when he said, "If I'm forced to go out because we do not have the bargain, then we have to close factories here in the UK. and it will be very, very sad.
"It's hypothetical, and I hope it's an option we'll never have to do."
His words follow a similar war Airbus announced in June
that he was planning to leave the United Kingdom in case of Brexit "without agreement", which could result in the loss of tens of thousands of dollars.
Image: Prince Harry and Meghan Markle in an E-Type Jaguar after marriage
BMW Customs manager Stephan Freismuth also warned that the company could not manufacture its products in the United Kingdom if Brexit meant that its supply chain was disrupted.
Big Business Intervention in the Brexit Debate Health Secretary Jeremy Hunt described what he sees as threats from companies, calling them "completely inappropriate." Johnson, a prominent Brexite executive in the government, did not deny saying "f *** business".
In his response to the latest JLR warning, Business Secretary Greg Clark tweeted, "JLR is a Great British Success We are determined to make sure that it can continue to thrive and invest in Great Britain.
The Prime Minister also insisted that businesses be listened to.
The British Retail Consortium is the last to warn of the consequences of any Brexit in March 2019 by warning that UK and EU food grower consumers would lose out if it does not happen. there was no agreement allowing the free movement of goods.
Its president, Richard Pennycook, said: "Friction-free trade is essential to continue to offer the level of choice and value in the stores that British consumers have a habit of seeing.
" It is now of utmost importance that the UK Government proposes a workable solution for the backstop that gets the withdrawal agreement on the line
"We need the EU to be flexible and responsive. creativity in negotiations and recognize the challenges of exporting to the UK. "
