Opportunity to exploit ‘no deal’ with EU

THE Government has issued advice on what will happen if there is a ‘no deal’ Brexit – and one would be entitled to have concerns.

In fact, our negotiators suggest that the likelihood of not achieving a deal increases by the day.

Yes, it would create problems, but could also lead to many opportunities which Government, if it has any business sense whatsoever, will take steps to exploit.

The sinking pound means we are more competitive in world markets, and if it is going to cost more to import goods into the UK, Government should be encouraging businesses to manufacture those items which we now purchase overseas.

This in turn will create more jobs which will also mean less dole money being paid out. This fact alone will mean that Government can invest more money in British industry.

One major asset assists British manufacturers’ overseas markets: we have a very good name for quality products and durability, an extremely valuable selling point.

It would be advantageous to be able to do a deal with Europe, but as the weeks slip by, it is becoming more apparent that Michel Barnier is not going to budge on any of his red lines. I therefore cannot see that a deal is possible.

In terms of EU history, they do have a knack of coming up with a last-minute fudged fix, which may happen in this case.

Already both French and German manufacturers, plus producers are starting to pile pressure on Brussels to be realistic, for they can see the impact of losing British custom. Jobs will be lost, and the economic results will be very damaging.

There is also another little matter that the EU has to consider, namely that there is a movement towards the right across member states.

Elements of the new Italian Government got into power on the back of a ‘quit Europe’ manifesto.

To lose British business could be catastrophic for Brussels in more ways than one. Russell Luckock is chairman of Birmingham pressings firm AE Harris