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In this issue: Weekly Focus – Britain votes to leave the EU | EEF Future Manufacturing Awards – Just over one month to enter | In the media | Blogs from this week |
Weekly Focus – Britain votes to leave the EU
The UK electorate has decided, by a margin of 52% to 48%, to leave the EU. This was not the outcome that a majority of EEF members had wanted according to our polling last autumn. In the short term nothing changes, the Prime Minister will continue to lead the current cabinet for the next three months and a new leader will take the decision on when to trigger ‘Article 50’ – the mechanism for a UK exit.
As expected, the immediate market reaction has been significant with Sterling dropping sharply against the dollar and share prices down in global markets. The Governor of the Bank of England has sought to steady the markets by committing to relentlessly pursue monetary and financial stability and the Bank will not hesitate to take whatever additional steps that are necessary.
EEF issued an initial reaction calling on government to move quickly to stabilise the economy, reassure the markets and shore-up business confidence. We will want to see a clear vision for a new relationship between the UK and the EU emerge. In a new report, we have set out our priorities for this new relationship and the government’s approach to anchoring critical investment in the manufacturing sector. These include:
- Maintaining tariff free access to the EU market for goods and services
- Ensuring regulatory stability
- Continue to address the UK skills gap
- Further focus on an integrated domestic policy to support investment, competitiveness and export performance
EEF will shortly be asking members about the impact of the referendum outcome on their business plans, to inform our representation activities with government and other policy makers. We would encourage members to participate to ensure we have good, up to date information on trends across the sector. If you do not currently receive our surveys but would like to participate, please contact our survey manager, Amanda Norris, at email@example.com.
You can download our report ‘What next for Britain and the EU’ here.
For more information contact Lee Hopley, Chief Economist
EEF Future Manufacturing Awards – Just over one month to enter
As manufacturers across the country have started to submit their entries for the EEF Future Manufacturing Awards, now is a good time to get the ball rolling with yours.
There are nine award categories in total to go for. These include:
Environmental Achievement – in partnership with CMR consultancy group
Innovation – in partnership with HVM Catapult
Health and Safety – in partnership with Howden Group
Partnerships – in partnership with Rolls-Royce
And of course our popular Apprentice Awards – in partnership with Siemens.
To enter go to www.eef.org.uk/awards.
For more information contact Soraia Silvello, Programme Manager National Awards
In the media
EEF and UK Steel were mentioned in relation to the referendum on UK membership of the EU. A joint statement with the TUC warning of the dangers of Brexit was covered in The Mail and The Mirror (link unavailable). Reuters covered Terry Scuoler’s comments backing Labour becoming more involved with the Remain campaign and City AM featured the potential damage that Brexit could have on manufacturing.
Elsewhere, UK Steel was featured in relation to continuing Steel crisis in The Mail. City AM and The Press Association (link unavailable) covered how Brexit could impact the steel industry.
For more information contact Mark Swift, Head of News
Blogs from this week
21 Jun 2016
What has the Brexit campaign said about UK manufacturing? by Lee Hopley
22 Jun 2016
What do manufacturers think about the EU referendum and why? by George Nikolaidis