If Honda’s spokesman is to be believed, dumping the pound and adopting the euro would make areas of land expand. A couple of days’ ago, Honda’s president was quoted as saying they would only expand their plant in Swindon if Britain joined the euro.
Our intention is to bring operations to full capacity and have no plans to expand, though we may change our minds if Britain were to join the euro.
He even went as far as to describe the original investment in the Swindon factory as a ‘mistake’. Today this was translated into something rather different by Honda’s spokesman Paul Ormond
There is a limit to growth in Swindon, so we are growing into Eastern Europe. The total area is something like 67 acres. We couldn’t physically build any more on there. What Mr Fukui was saying is going forwards we couldn’t do a great deal more in Swindon because of the limitations on the site.
Clearly, joining the euro would make a few extra acres appear on Honda’s factory site.
If the politicians explained this magical land-expanding ability of the euro to the public, maybe people wouldn’t be so sceptical about it.