The Honda company is expected to announce the closure of the Swindon plant officially on Tuesday 19th February, first reported by Sky News.
Firstly there is the human cost of lost incomes affecting the whole area, lost of Government taxes and add payment for unemployment benefits. Then there are taxes paid direct to the Government, and lost exports, which will affect transport companies and shipping lines as many of the vehicles are exported. The company produces more than 100,000 Civic cars a year.
With the new EU/Japan trade agreement, it dose not make sense having a manufacturing plant in a country just outside the European Union. This is the only Honda manufacturing site inside the EU.
Brexit must be a main reason for the closure. Nissan also announced manufacturing of the new X-Trail will now be made in Japan.
With the new EU/Japan trade deal, expect many more Japanese companies to decide their future with the UK in or out of the EU shortly.