Faisal Islam Profile picture
Jan 27 4 tweets 2 min read
“Dismal year” for UK car production as global chip shortage bites - worst for 65 years @SMMT
… though avoiding No Deal tariffs etc has released investments in future electric capacity for future…
bbc.co.uk/news/business-…
1956 was the last time we saw so few cars produced, also the year that the UK lost its title as being the world’s biggest exporters of cars… to Germany.

(German post-war success in part, eg Volkswagen, down to RAF Major Hirst restarting Beetle production at Wolfsburg)
1956 was also the Suez crisis, which brought petrol rationing, and led to the creation of the fuel efficient Mini, which in 2021, under German ownership, was the UK’s most exported car….
Striking that UK car production in 2016 was 1.72 million (a 17 year high), and that has now almost exactly halved (tiny bit over) to 859k by 2021… as replies in thread are asking about.

That trend tho also seen eg in Germany (-46%) 5.75m to 3.1m

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More from @faisalislam

Jan 28
Lorry queues at Dover, due to ferry cancellations and post Brexit customs checks/ paperwork on outgoing lorries, truckers tell my colleague @BBCChrisMorris who has been looking at the almost regular use of Dover TAP queues this month:

bbc.co.uk/news/business-…
Here’s what I’ve been told about this.

should be said, on both sides of border, up until last week, officials had been pleasantly surprised re new incoming (ie EU to UK) checks seemed to settle ok. “Turnbacks” of lorries with incorrect paperwork 30%ish in 1st week, down to 5ish%
3 separate things

1. New UK checks incoming, some paperwork required at eg Calais - seems smooth, tho traffic low. Awaiting stats.

2. New UK checks eg off M20, described as “black box” -little info emerging re some long import delays

3. Dover TAP activated repeatedly outbound
Read 10 tweets
Jan 25
White House reveals talks to find alternative gas supplies for Europe in event of Russian invasion of Ukraine/ sanctions on Russia - “What we’re looking at is to make sure that there are some suppliers that are able to bring on volumes into Europe”… whitehouse.gov/briefing-room/…
White House talks with companies that could supply European gas needs for months if Russian supplies are cut off “to see how much they can increase that output on a relatively temporary basis. So, for a number of months, while we’re in a crisis — potentially in a crisis mode.”
“we’re engaging our European allies to coordinate our response planning, including talking to them how they deploy their existing energy stockpiles, which are, obviously, at significantly low levels this year due to the reduced Russian supplies over the last several months…”
Read 6 tweets
Jan 24
Treasury minister Lord Agnew resigns at despatch box calling anti fraud measures on pandemic loans “desperately inadequate”
- “oversight by both BEIS & British Business Bank ..nothing less than woeful”..
“HMT has no knowledge or little interest in consequences of fraud”
…Ouch - Treasury minister Agnew resigning at despatch box on Covid rescue anti fraud failings: “Schoolboy errors were made, for example allowing over 1000 companies to receive Bounceback loans who were not even trading when Covid struck”
“… simply failed to understand agents hold in stock companies with earlier creation dates…”
“Ive been arguing with Treasury and BEIS officials for two years to get them to lift their game, I have mostly been unsuccessful”…
Read 10 tweets
Jan 19
NEW: Target inflation on the Consumer PRice Index measure reaches a 30 year high of 5.4% rise in December - highest rise since Bank of England became independent…
5.4% CPI is the highest since MArch 1992
On the old Retail PRices Index measure, still used in setting of some bills, public finances etc inflation reached 7.5% - highest since MArch 1991 during first Gulf War
Read 12 tweets
Jan 18
“I don’t think she’s got any choice. She should call him as a witness but also call any other witnesses he can bring forward who are willing to give their version of events”

Andrew Bridgen as I ask: “do you think Sue Gray should call Dominic Cummings as a witness?” #Newsnight Image
Read 8 tweets
Jan 15
There may be no solution to the Government’s immediate energy trilemma… the hit will go well beyond the “fuel poor”. I understand that an option on a £15bn plus “Cost Deferral Mechanism” to smooth the spike over is being developed… BLOG:

bbc.co.uk/news/business-…
No decisions yet - not everyone within Whitehall nor within the energy industry are on the same page, but they will be needed fairly quickly…

Some supporters of PM arguing he will use this Cost Deferral Scheme, to relaunch his premiership
BBC has seen some plans, there are different timeframes, some include taxpayer guarantee, though not necessarily needed, some are adaptations of the last resort mechanism approved by Ofgem for keeping customers of bust companies going, another builds on BoE pandemic schemes…
Read 6 tweets

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