1/ Lord Bamford's letter to the @telegraph, unlike the coasters at Weatherspoons, is a calm, reasoned contribution to the debate from an informed and experienced stakeholder. It deserves to be talked about respectfully and in detail.
I will try to do so 👇🏼
I will try to do so 👇🏼
2/ First, it's unquestionably good news JCB feels confident even in a 'worst case' (from a trade facilitation standpoint) scenario.
JCB is a big employer both directly and indirectly, and Lord Bamford's letter should be heartening for those who rely on JCB for their livelihoods.
JCB is a big employer both directly and indirectly, and Lord Bamford's letter should be heartening for those who rely on JCB for their livelihoods.
3/ Second, I think those on the No-Deal side lining up to gloat about this letter should read it carefully.
His message is there will be disruption but 'business will adapt'.
His message is there will be disruption but 'business will adapt'.
4/ J.C. Bamford Excavators Limited (or JCB) has annual revenue in excess of $2.5 billion, over 11,000 employees and factories on 4 continents.
Their ability to 'adapt' to 'disruption' may not be representative of the agility and resilience of the average British business.
Their ability to 'adapt' to 'disruption' may not be representative of the agility and resilience of the average British business.
5/ Lord Bamford makes the point that from his perspective, importing from Australia and Austria is indistinguishable.
With the greatest respect, I wonder if his comments are at all colored by his access to JCB's vast legal and trade bureaucracy resources?
With the greatest respect, I wonder if his comments are at all colored by his access to JCB's vast legal and trade bureaucracy resources?
6/ Dr Jerzewska (@AnnaJerzewska) put together the below to demonstrate the exponentially increasing paperwork requirements when moving away from the Single Market.
As a multinational corporation with decades of experience, JCB is far better equipped to navigate these than most.
As a multinational corporation with decades of experience, JCB is far better equipped to navigate these than most.
7/ Lord Bamford makes this point 👇🏼 about UK Ports.
In time, I think he's correct, though I fear the short term impact.
I'm a little less certain about the capacity of other ports to pick up the slack for Dover Ro-Ro or the tunnel. Ships and lorries are VERY different beasts.
In time, I think he's correct, though I fear the short term impact.
I'm a little less certain about the capacity of other ports to pick up the slack for Dover Ro-Ro or the tunnel. Ships and lorries are VERY different beasts.
8/ Lord Bamford's confidence in @JCBmachines post No-Deal Brexit is great news, but no reason for others to relax.
JCB is vast, with supply chain logistics are supported by firms like DHL and 3T logistics, and JCB can afford advice from the Big 4. Not all are so lucky.
JCB is vast, with supply chain logistics are supported by firms like DHL and 3T logistics, and JCB can afford advice from the Big 4. Not all are so lucky.
9/ The construction equipment sector may also not be fully representative of all business in the UK.
Excavators will not face sanitary inspections (dairy), and will not have to compete for limited tariff quotas (beef), or lose access entirely (some services).
Excavators will not face sanitary inspections (dairy), and will not have to compete for limited tariff quotas (beef), or lose access entirely (some services).
10/ With all that said, we should be welcoming more input like this from those with experience trading across borders.
UK businesses would benefit from hearing what @JCBmachines is doing to prepare for March 29th, so they can emulate what I'm sure is best-practice.
/end
UK businesses would benefit from hearing what @JCBmachines is doing to prepare for March 29th, so they can emulate what I'm sure is best-practice.
/end
