Post-Brexit boom?

A post-Brexit study has found that well over half of British manufacturers are positive about the decision to leave the European Union (EU).


A post-Brexit study has found that well over half of British manufacturers are positive about the decision to leave the European Union (EU). The research, conducted by independent energy consultancy Utilitywise, found that 57 per cent of manufacturers felt that the decision to leave presented business opportunities for them. The findings coincide with research from the Confederation of British Industry (CBI), the business lobby group, which found that orders for British manufacturing exports climbed to their highest for two years in August 2016.

Tim Hipperson, Consultancy Director at Utilitywise, said: “With the dust beginning to settle post-referendum Britain’s manufacturers are clearly the sector most positive about business going forward, with the weaker pound and boost in exports likely to be the main reason for their enthusiasm. However, it is also likely that manufacturers are hopeful that a government not bound by EU trade and energy regulations is more likely to offer them proactive financial support and assistance, perhaps in the form of subsidies, that will help them compete internationally. Whatever the reason, it is good to see that manufacturing, a vital component of the economy, is feeling optimistic about its economic future.”