Brexit: UK 'did not offer financial incentives' to keep Nissan

London – A government minister has denied that Japanese car maker Nissan was offered financial incentives to commit to staying in the UK following the Brexit vote.

Nissan announced last week that the company had decided to produce new Qashqai and X-Trail SUV models at its Sunderland plant in north east England.

The decision would have come as a huge relief to the plant’s 7,000-plus workers, as well as to companies supplying parts and services to the car giant, many of whom operate in the UK plastics & rubber sector.

In a 30 Oct interview, UK business secretary Greg Clark told the BBC’s 'Question Time’ programme that there had been “no cheque book” involved in the decision to keep Nissan in the UK.

“The important thing is that they know this is a country in which they can have confidence they can invest. That was the assurance and the understanding they had, and they have invested their money,” Clark added.

The government’s move to throw its support behind Nissan follows reports of its willingness to ‘ring-fence’ certain banks from the impact of the UK’s departure from the EU, which is expected to happen in early 2019.