A UK-based manufacturing company believes that exiting the EU would cause a ‘catastrophic crash in UK manufacturing’s competitiveness’
Writing in the upcoming March issue of CAT, Toby Massey, MD at BM Catalysts says: “Brexit is a divisive issue and from an economic perspective, an increadibly short sighted one”
He notes that 50 percent of his company’s turnover is generated from export, so the corporate stance is ‘naturally pro EU’.
However, his strongest words are reserved for the subject of migrant workers. He writes, “It’s naive to assume that closing the boarders to migrants would facilitate an abundance of home grown labour. In fact, what would happen would be a catastrophic crash in UK manufacturing’s competitiveness. Cost of production for UK manufacturers would likely sky rocket and manufacturers across the channel would be given an obvious advantage. This could easily lead to many manufacturing businesses, especially SMEs, going under altogether.”
Read the full article in the March issue of CAT, published tomorrow.
Scaremonger or what? Actually Brexit may increase competitiveness and open up new markets, there could be a view that it is Mr Massey’s lack of understanding in other markets that makes him protective of his European business. Only naivety would suggest that the UK would become uncompetitive, think openly in that without the Brussels red tape we may become more competitive! After all, thanks to our opportunistic outlook workers have been coming to the UK for many years!