The EURIS Taskforce, a body of trade organisations (including CESA) representing UK manufacturing worth £148bn in turnover and with 1.1m employees, has written to all Conservative leadership candidates to highlight that no-deal should not be an option in the Brexit debate.
The association group believes a no-deal Brexit would cause severe damage to UK manufacturing and risk huge job losses as the impact on trade “will be too hard to bear for many companies”.
In the letter, the EURIS chair, Dr Howard Porter, refers the candidates to the recent EURIS report ‘Securing a competitive UK manufacturing industry post Brexit’, which outlines why it believes it is important the government avoids a no-deal outcome. EURIS analysis, carried out for the report, indicated that a no-deal scenario, placing the UK at the bottom of all global trading leagues under default WTO rules, would be a “disaster” for the industrial product supply sector.
Porter said: “A no-deal Brexit will result in significant long-term damage to the UK manufacturing sector and will put at risk the industrial product supply sector’s £148bn contribution to the UK economy.
“Of particular concern are the potential costs of regulatory compliance and administration placed on exporters and importers in the UK under a no-deal, which many believe will be too hard to bear for some companies. EURIS is calling on all Conservative candidates to support UK industry and secure the future of our contribution to the UK economy by avoiding a no-deal Brexit.”