Brexit: No bargain would be 'hugely damaging' to vehicle industry

unsuccessful to strike a Brexit bargain would put "hundreds of thousands" of jobs in the vehicle industry at danger, MPs have said. In a report published on Thursday, the Business, Energy & Industrial Strategy (BEIS) Committee said the UK vehicle industry was largely Exportation-led by Europe as the primary market. Image copyright Getty Images"There is no credible argument to propose there are pros to be gained from Brexit for the UK vehicle industry," Rachel Reeves MP, seat of the BEIS Committee, said. Continued confidenceDespite the vehicle industry's worries about Brexit, a string of large industrialists have committed to building further cars in UK ever ever the European Union referendum. Patrick Minford, seat of the Economists for toll free Trade group, previously known as Economists for Brexit, said: "The vehicle industry... opposes toll free trade that would include powerful competition from other world provider currently saved through the UK market by high European Union trade barriers.

Brexit: No bargain for Britain vehicle industry puts hundreds of thousands of jobs at danger, MPs warn

Hundreds of thousands of English vehicle industry jobs can be put at danger after Brexit unless the UK reaches a bargain by the European Union on the sector, MPs have warned. UK ought still to follow European Union vehicle industry rules after leaving the bloc, the Business choose Committee said. It said it can find no benefit to the country's automotive sector from regulatory divergence from the European Union, just costs. This presents barriers to the UK attempting to roll over existing European Union trade deals by other nations while the country leaves the bloc. Unite helper general secretary Tony Burke said: "The vehicle industry would be hugely influenced by a difficulty Brexit, however there ought not be a specific bargain just for this sector.

Britain vehicle industry have to be at the heart of Brexit negotiations, tell MPs

as declared in Investment & thousands of jobs can be Stray in booming automotive sector, committee warnsUK vehicle industry have to be at the heart of Brexit negotiations, tell MPsThe Britain Gov. have to put the vehicle industry at the heart of Brexit negotiations or danger the loss of thousands of jobs & hundreds of millions of pounds of investment, MPs have warned. In a gloomy assessment of prospects for Britain vehicle manufacturing, the business, energy & industrial strategy (BEIS) choose committee said Brexit was negative for the sector, by "damage limitation" a better possible outcome. "There is no credible argument to propose there are pros to be gained from Brexit for the Britain vehicle industry. Regulatory consistency & friction-toll free trade advantages vehicle companies, consumers & vehicle workers. Britain vehicle manufacturing took a knock final year as doubt over Brexit & the wider economy made consumers reluctant to commit to great spending decisions.

collected by :Catlin Logan