Extremely interesting iv with AZ chief Soriot:
“contract with UK was signed first and UK, of course, said “you supply us first”, and this is fair enough. vaccine was developed with UK govt, Oxford and with us as well. As soon as we can, we'll help the EU” repubblica.it/cronaca/2021/0…
What is surprised, in a way, is the absence of this type of “you supply us first” arrangement with say Germany and the German firm Biontech, with hundreds of millions in German govt and EU-funding that invented the Pfizer vaccine ...
extremely important piece of context here that AZ is exporting this at cost price, including essentially to developing countries, having been previously more focussed on monoclonal antibody COVID treatments... soriot’s predictions from last April - pretty much spot on:
In general though - it’s in everyone’s self interest that everyone in the neighbourhood gets vaccinated - that applies to countries as well as streets...
And it looks like those production facilities are all being built now - they’ll be needed - by everybody:
Also as AZ acknowledge that UK insisted on “you supply us first” - and Gov understandably wants the plaudits for that - surely no surprise that the reverse will now happen? Surprise to me was that EU nations didn’t do it, particularly given comfort with statism.
They will now.
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Different type of vaccine being developed at Scottish factory of a French company - an “inactivated whole virus” - UK task force secured 60m dose preorder in July for €470m with options for 130m more 2022-25, invested in factory. EU finalised first order of 30m this month.
Basically the Government through @KateBingham acted like a venture capital fund, funding many vaccine candidates, expensively, across different types of tech, with companies from different countries (at time of some scepticism that a working vaccine could be produced so quickly)
Though despite the fact French Valneva had been funded for its vaccines in general in 2018 by EU’s investment bank, UK funding guaranteed its production in UK (speculative VC style investment) - similarly UK signed deal with Pfizer for German developed/ funded Biontech vaccine
Much needed good news from colleague @BBCSimonJack iv with Nissan COO Gupta... tariff free deal means they commit to long term future for Sunderland - & will move battery production for one Leaf model that doesn’t meet electric car rules of origin threshold, to UK, so it does
Vital last gasp negotiation between PM and VDL on this very issue at the last moment before deal was struck - up until then was genuine risk of some tariffs even in a deal - industry now needs significant backing on battery capacity for future, esp given combustion engine bans...
Some quite interesting comments to simon though on essentially anticipation of Nissan winning domestic market share at expense of EU imports... Raises wider questions about whether Govt chooses to lean into some import substitution strategies given extra non tariff barriers...
Horrible latest numbers just released on UK COVID deaths - 1,820 newly reported today... by date of death that’s 5 confirmed consecutive days above 1000 deaths 10-14 Jan, 10 consecutive days at around 1000 a day 7-16th January
sustained “by date” pattern of UK COVID deaths in early January 2021 (7 day avg peak 1039 from 9-15th Jan) now unequivocally worse than in the previous April 2020 peak (7 day peak avg 974, 7-13th April)...(remember this is not excess death measure more comparable internationally)
So 1,290 newly reported Covid deaths, or 4,720 in past three days.
By date of death there’s now officially 10 consecutive days of UK Covid deaths at 1000 or higher every day from January 9th to January 18th - significantly above April wave 1 peak
interesting - minutes from EU health security committee, still attended by the UK, from time new variant exploded - UK told EU Early Warning and Response System about it on 14th December. A week later, a day after tier 4 extension UK invited to explain all here...:
In return ... 20 mainly EU nations respond at the Committee detailing varying degrees of travel ban imposed on UK at that time...
Eg above Ireland said that the restrictions should be strengthened and “should be uniform around the EU”...
European Commission “DG Move” immediately raised issue of moving PCR testing away from borders to avoid “severe disruptions” and keep trade moving...
NEW:
Government/ industry sources confirm US-UK “mini deal” negotiations, revealed by US Trade Rep Lighthizer to BBC last month, failed to progress last week, after concerns about Airbus backing. Means Scottish whisky/cashmere tariffs continue...will be picked up with Biden admin
UK Govt source: “Ultimately we came close to resolving an intractable 16 year dispute[airbus-boeing], but didn’t quite get there. Any deal must be balanced and work for the whole UK and all of UK industry... understand pain of affected industry”... (ie whisky etc)
Net result is that Scotch whisky/ cashmere tariffs remain in place at least for a couple of months while new Biden Trade Rep Tai is confirmed, but then it’s a matter for their policy.
Lowering UK bourbon tariffs in separate steel dispute also in the mix here