Britain plays a major role in the EU and exerts significant influence. The economic consequences of a potential Brexit would undoubtedly be bad for Britain. But the shock waves will be felt across the entire EU by companies and employees alike.
That is why, representing manufacturing industries across the EU, the European manufacturing employers represented in CEEMET and the European industrial workers trade union, industriAll Europe, believe Brexit would amount to a lose-lose situation for Europe. Re-erecting political borders and economic hurdles are not a solution to address the challenges that Europe, including the UK, face and eventually would be detrimental to the prosperity of both the UK and the EU.
We believe, based on economic analysis made for the sector (Click here), that investment in UK manufacturing would fall and the British economy would shrink in size should it leave the EU. However the knock on effects across the single market because of the interdependency of supply chains could prove highly damaging for other member states. Industry and trade unions often differ in views of EU decision-making.
However we are united in believing it is in the best interests of industry and the workforce, in both the UK and across the EU, if Britain remains a member of the EU.