John Denham will tomorrow criticise the government for overlooking Britain’s last remaining train factory – Bombardier in Derby - when awarding one of the country’s largest-ever train contracts.
The order for 1,200 Thameslink trains, likely to be worth over £3bn, instead went to Siemens on June 15. The German company will only create a few hundred UK jobs as a result.
The shadow business secretary will tell a Progress event that the decision not to award the Thameslink contract to Bombardier, which employs 3,000 in Derby, was “a huge blow to the UK rail industry”. Read more
This morning we reported that the £1bn Sino-UK trade package was a bit short of detail other than a £1m deal to sell breeding pigs to the Chinese. Downing St has since updated its announcement to include a few other deals beyond the porcine arrangement.
They include an agreement to let Unilever expand its manufacturing in China, as well as clearance for a Diageo takeover of a Chinese company.
Here is their announcement:
* An agreement between BG Group and Bank of China to access a new credit facility of up to $1.5 billion that will allow the group to expand their business in China. Read more
Downing Street have announced £1bn of trade deals between China and the UK today. Although this figure is somewhat caveated:
Advancing opportunities for Government and business, delivering concrete outcomes to help boost UK growth through a package of and deals, likely to be worth more than £1 billion.