Manufacturer survey shows concern mounting over Brexit no-deal
11 Sep 2018
More than four out of five UK industrial product manufacturers surveyed want Britain to continue regulatory alignment with the European Union.
The findings by advisory body EURIS and The UK Trade Policy Observatory (UKTPO) have been published in their report on the impact of a no-deal Brexit.
Among the key findings of the report, titled Securing a competitive UK manufacturing industry post Brexit are:
83% of respondents support regulatory alignment
44% say imports account for more than half their total costs
More than 30% claim they have seen falls in investment on account of Brexit
Dr Howard Porter, EURIS chair said: “Our industry needs clarity and a Withdrawal Agreement confirmed with the European Commission in the autumn.
“As this report and our member survey clearly show, further delays and the risk of no-deal will result in significant long-term damage to the UK manufacturing sector and will put at risk the industrial product supply sector’s £148 billion contribution to the UK economy.”
Further delays put at risk the industrial product supply sector’s £148 billion contribution to the UK economy
Dr Howard Porter, director, EURIS
Euris, which represents firms with a collective turnover of £148 billion and with 1.1 million employees, includes 13 leading trade associations among its members.
Among them are the Engineering and Machinery Alliance as well as the Manufacturing Technologies, British Fluid Power and British Pump Manufacturers associations.
UKTPO director Professor Alan Winters said that if the warnings from manufacturers were ignored, a quarter of the UK goods trae would be vulnerable to cuts, with implications for jobs.