MINI is likely to cut shifts at its plant in Oxford in the event of a no-deal Brexit, a move which could affect jobs.

Speaking to the BBC, Nicolas Peter who is the finance chief at BMW, which owns MINI, said the manufacturer has no plans to shift production to plants overseas.

He said: "[A no-deal] would mean that we would most likely have to raise the prices of the products produced in the UK and shipped to other markets [in the EU].

"The increase of price means an impact on the volume you sell, and would eventually lead to a reduction of produced cars in Oxford."

Investment in the UK's car industry has fallen dramatically in recent months as manufacturers grow increasingly concerned that the UK will no longer be an attractive location to build cars.

MINI has said it will close its Cowley plant on 31 October and 1 November in an attempt to minimise Brexit disruption.