Mr Carlos Ghosn: Mr Ghosn was pleased to accept the Prime Minister's invitation to explain Nissan's concerns about future investments at the company's Sunderland plant, now the UK's biggest car producer.

Mr Ghosn warned about the effect on future investment of the relative strength of sterling against the Euro. He stressed the importance of exchange rate stability in planning long term investments.

Nissan's president also confirmed that the company is purchasing fewer components in the UK, in order to cut costs and lessen the risk from changes in the £/€ exchange rate. Some 75 per cent of Sunderland's output is exported to the Continent.