BPMA voices concerns over a ‘No Deal’ Brexit
The British Pump Manufacturers Association has joined other engineering employers and trade associations in voicing concerns to the UK’s prime minister, Theresa May, about a ‘No Deal’ Brexit scenario.
150 chief executives, ‘including the CEOs of some of Britain’s biggest engineering employers as well as those of some of its most innovative smaller companies’, have recently written to the prime minister making it clear that a ‘No Deal’ Brexit would cause enormous disruption to UK industry and risk substantial economic damage to the country.
A ‘No Deal’ scenario is one in which Brexit happens with no formal agreement reached during negotiations between the UK and EU.
The letter was organised by the EURIS Task Force, a group of 13 trade associations which collectively represents industry sectors with a combined turnover of £110 billion (€124 billion). Among EURIS’ members are the BPMA, and the British Fluid Power Association.
A No Deal scenario would, according to the industry leaders behind the letter, deter investment, increase operational costs, cause supply delays to UK customers and result in deviation from EU product regulations.
The letter argues that industry needs certainty and continuity, particularly in terms of regulations and standards, to realise new growth potential through Brexit.