Kraft's craftiness

It's not always pleasant to say "I told you so". Even when you have told someone so. But I did tell you so. So I'm going to say: "I told you so". Kraft's first act on taking over Cadbury's has been to close down a factory, kick out their workers and relocate somewhere cheaper.

Well I told you so here.

Peter Mandelson has worked himself up into a lather of indignation, which of course is pretty amusing given his inaction and inertia during Kraft's manoeuvring prior to the takeover. At best he paid lip-service to UK jobs and investment. At worst he couldn't have cared less.

So not only will the Cadbury's workers lose their jobs but the Exchequer will lose the tax revenue that comes from manufacturing and business arms being located in the UK. Eventually all of Cadbury's assets, including their staff and their skill sets, will be relocated outside the UK.

The UK benefits enormously from free trade and from having an open market, but that doesn't mean we can't pick and choose. Every other country does, after all. A 'Cadbury's Law' to protect UK companies from takeovers where there is no discernible benefit to the UK economy would be a tricky law to implement, but it is possible, and is a step in the right direction.