Speaking about the risk of a ‘No Deal’ Brexit, Manufacturing Technologies Association CEO James Selka issued a statement.
“The manufacturing technologies sector is highly internationalised. All of our members have either international suppliers or international customers, frequently both, and they need the confidence that they will be able to work with them on a secure basis in the future.
The uncertainty that Brexit is causing is affecting plans, investment and prospects. In a No Deal scenario that would be multiplied and carried forward into the future. Costs will be incurred from tariffs, non-tariff barriers, disruption of supply, the need to hold inventory stock and difficulties in posting personnel across the continent. Smaller companies in particular may find it difficult to manage their cash position as unexpected costs come in.
Politicians of all persuasions need to think very hard about businesses and jobs in their constituencies that will be at risk from the recklessness of No Deal.”