Four out of five manufacturers in the industrial product supply sector want continued regulatory alignment with the EU after Brexit, a new report finds.
The survey carried out by EURIS, which counts CESA as a member, found that UK companies said supply chains had already been disrupted by post-referendum currency changes.
Independent experts at UPTO were also involved in the survey and revealed that 83% of industrial product manufacturers are in support of continued alignment with the EU.
Manufacturers cited staying competitive in a global market as reasons behind the support, as they see no benefit in moving away from the EU regulatory system.
They went on to say how EU27 companies had already started to select non-UK suppliers amidst the ongoing uncertainty of post-Brexit arrangements.
Industrial manufacturing representatives are calling for a Withdrawal Agreement to be reached with the European Commission at the earliest opportunity to give clarity to industry, warning that a no-deal Brexit will cause severe damage and must be avoided.
The survey results have been published in a report by the University of Sussex-based UKTPO and EURIS, which represents companies with a collective turnover of £148 billion and with 1.1 million employees.
EURIS noted that the negotiations on the future relationship between the UK and the EU27 are the most important for its members since the formation of the single market in 1993.
The advisory body warned a no deal outcome would have lasting impacts on the industrial product supply sector, and its ability to contribute to the UK economy.
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.”