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To What Extent Is Uk Membership Of The Eu An Opportunity For Uk Businesses?

687 words - 3 pages

To what extent is UK membership of the EU an opportunity for UK businesses? (40)
To a large extent, EU membership arguably is an opportunity for UK businesses as it allows them to operate in a single market. The ability for members to trade without restrictions or tariffs is a significant benefit to business, with imports and exports being made easier and sometimes cheaper. In addition, the EU is Britain`s biggest trading partner with it being worth more than £400bn a year. The possibility such benefits could be taken away has probed business to come out and speak on a possible EU exit. A key example of this is the European aerospace and defence giant Airbus. Paul Kahn, president of Airbus ...view middle of the document...

Nigel Stein, head of automotive and aerospace giant GKN, has warned the uncertainty over Britain remaining in the EU and a lack of technically skilled young people are two of the biggest threats to the country’s economic recovery. Stein cited aerospace as one example of where leaving the EU would harm British manufacturing, as all the wings for Airbus’s jets are made in Britain. GKN also produces the driveshafts used in about half of all cars worldwide, a business which would be impacted if the UK were to quit. In addition, a report from April 2015 founded that almost half of organisations in the 2015 CIO 100 were actively seeking to recruit technology talent from the EU to support their business and tackle the IT skills shortage, while two thirds of the technology departments represented employed skilled EU workers, suggesting a exit following an EU referendum could significantly disrupt UK organisations across every industry. Organisations among those employing EU staff in their IT teams included British Gas, Jaguar Land Rover, infrastructure projects HS2...

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