The UK renegotiation, represents a unique opportunity to examine the competitiveness of the EU and put in place measures and policies which drive toward the ambitious goal of bringing industry’s contribution to EU GDP from the current 15% to 20% by 2020. The renegotiation must be seen as an opportunity to create lasting structures and measures for all 28 Member States rather than simply a better deal for the UK.
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A British vote in favour of leaving the EU would be a “lose-lose” situation for manufacturers in the UK and across the EU, according to a paper from the EU manufacturing association CEEMET.
The analysis warns that the impact of Brexit could trigger a downward spiral in UK GDP growth for industry, with the worst affected companies being medium-sized manufacturers in complex global supply chains.
The research, by Professor of economics Frédéric Gonand, of the University of Paris-Dauphine, commissioned by French employers’ group UIMM, is based on a detailed analysis of trends in manufacturing in the last two decades. It is a conservative estimate of the impact on British companies.