Did I detect a touch of sarcasm in Mr T Kerby’s (Sept 8) reply to me when he wrote “he can even read people’s minds as well.” Mr Kerby was referring to a sentence in my previous letter where I’d said: “Gillian Telford was probably speaking for millions of people.” I’m only mentioning this insignificant issue because I believe Mr Kerby got hold of the wrong end of the stick. He reached an incorrect conclusion by ignoring the word “probably” in the above sentence! Mr Kerby said Nissan were lured here by Thatcher. Wrong! They were invited to Britain by the then Government. It was the Sunderland Labour Council however who competed with other regions before luring Nissan to a Sunderland site.
Mr Kerby says Nissan was looked on favourably and asked did other foreign firms received the same. Mr Kerby should concern himself with the British firms which have been losing ground. German and French firms have grabbed British water and electricity, a Spanish construction consortium took over London Airports. All this “grab the easy money” by British firms is not allowed in other countries. They know it doesn’t provide a sustainable and viable economy.
A good example is Thames water. It was bought by a German firm in 2000 for £4.3billion. It then raised £1.4billion against its assets. The proceeds were deposited in Germany while requiring the debt to be paid by Thames in London. The Germans then sold Thames on to an Australian bank for £8billion. Where UK manufacturing continues to thrive, it’s generally through inward direct investment, such as Nissan of Sunderland.