Insider South West has this week published a Business Matters article by Iain Black, a partner at accountants and tax advisers MHA Monahans
In it, he looks at why UK-based manufacturers gave a muted welcome when a decision was finally made on Brexit post-election.
Understandably focus has now shifted to what the trade deal negotiations will bring. Huge pressure and vested interests sit around the table with a need for deals to be done to give UK businesses clarity over what the playing field will look like going forward.
It is generally accepted that despite what the Government has said, concluding trade deals in a twelve-month period is unlikely to happen and after a prolonged period of Brexit related uncertainty, manufacturers are rightly at the front of the queue in needing certainty.
For some large-scale manufacturers the prospect of a no-deal Brexit at the end of 2020 means big location related decisions are on the agenda. This is particularly relevant in the beleaguered automotive sector, where investment has fallen by 80% and the prospect of 10% export tariff on cars in a no-deal situation, will be the proverbial “straw” that will break the camel’s back.