Does Global Britain have a runway?

Or why the UK’s growth performance is being undermined by not being able to physically land new investment and jobs.

Aka Swindon – a cautionary tale.

A🧵on @pmdfoster latest in the FT 1/x

ft.com/content/1d2474… The UK is in tricky spot - weak growth performance, inc weak levels of foreign investment.

We also under much greater international competition for new cutting edge sectors – where will our future jobs come from?

This is a top priority for current government 2/x

We know failed planning reform hurts UK economy *in the abstract*: lower growth, higher cost of living etc

But what if approach also *directly* costs jobs, inc blue collar jobs that form backbone of levelling up?

Superb @pmdfoster @PickardJE story
on.ft.com/3MmmUNx

🧵 Post 2019 election win, a central Boris aim was planning reform - to tackle housing cost of living crisis.

However didn't quite go to plan... the bane of successive liberalisers (well to do, southern comfort NIMBYS) killed off radicalism via scaring backbenches

2/

This has caused a fair bit of heat, but on the central point surely it is right:

Brexit is a radical restructuring of UK's economic place in the world - with all that means for domestic reforms.

I'm constantly amazed at how complacent / 'carry on as before' many are
1/

https://twitter.com/DavidGHFrost/status/1463108348589531137

To take three examples: international investment, skills and planning reform.

Many national & local leaders seem to think we can just bumble along, not offend any voting group & hey presto, post Brexit economic health follows. Sadly I don't think this will cut it
2/

I am now officially VERY depressed about the dynamics of #Bristolprotests

Here is an observer’s view – on why it could get worse before it could get better.

Depressing TLDR: We might be trapped in a cycle of worsening disruption for a while unless we wake up…

1/ Quick disclaimer:

Have lived in central Bristol for 12 years. Protests have, literally, been keeping my kids up at night.

Day job is for org that's spent past 30 years trying to regenerate city centre – in wake of 1990s riots.

But this is *my personal view only*

2/

So in light of the good news on Honda site's sale, a niche thread:

On employment land, the eternal balance between manufacturing vs shopping and what it means for local UK economic strategy..

1/ First up - the good news.

Panattoni are a big global logistics firm and they secure the future of the site. Great news.

Reading through the releases, appears will either maintain or increase no of jobs on the site. V +ve for Swindon employment.

2/

What are SMEs thinking about current Brexit mess?

Am just going through our most recent business survey, & clear is causing, not just widespread despair, but also lost business, fraying relationships with European customers & investment held or cancelled.

Some quotes below: “Many European customers are saying they don’t want to buy British made goods. In situations where we are the only manufacturer, the clients have asked if we can consider to relocate production from UK to an EU country”

Chemicals Company

The news on Honda is devastating - a major employer and contributor to Swindon.

With any decision like this, multiple factors at play.

One of them is Brexit, as presentation slide Honda gave to MPs in 2017 shows. Honda been saying these messages to MPs & government for 2 years Trump thrown additional level of uncertainty into Honda planning.

Honda Swindon exports approx 40% of its cars to the US. The threat of tariffs of between 10-25% on Civic would make it completely uncompetitive in US market.

Another big strategic headache for Honda Japan