Post Brexit is a place that is scary. People fear the worst, and until things happen, no one really knows how it will affect them. The CNC turning Bristol industry is just one that is suffering with uncertain times. How will trade agreements affect production prices and the ability to import and export? In terms of engineering, and in particular CNC milling and turning, they are both positives and negatives of the UK leaving the EU.
CNC Turning Bristol Post-Brexit : Sterling Rate
The most obvious impact of the referendum is the fact that sterling currency will depreciate. This will mean that exports will be cheaper, and buying British products will actually become more attractive. What this actually means is that the UK will be giving a bargain to people that it cannot actually afford. In the short term, a boost in the internal market is expected. As products from abroad will become more expensive due to the dwindling pound sterling, people will source closer to home. Local manufacturers and suppliers will undoubtedly benefit.
CNC Turning Bristol, like all sector industries, has still not really ever recovered since the crash of 2008. New technology however, along with investments, is allowing manufacturers to try and reverse this. Predictions look good, and there are high hopes for those working in the automobile industry, to name but one.
Post Brexit Analysis for CNC
The Royal Academy of Engineering has conducted a heavyweight analysis of both the opportunities and threats that the referendum will bring about. A new strategy for the industry is a must, with the need to maintain a supply of skilled labourers. CNC and engineering are extremely important to the overall economy of the country, making up around 10%, a figure which means that the industry cannot be overlooked. One real concern is the lack of skilled staff that the UK will have to offer post Brexit. Hiring of staff from abroad is necessary, and immigration issues are a big concern.
With stricter immigration, the UK will lose skilled employees, something it can ill-afford to do. Although the UK will benefit on a local level, with manufacturers using local suppliers, it cannot be forgotten that skilled tradesmen from abroad are still needed in order to maintain our workforces.
With predictions healthy for the short term, what is worrying the industry is what the long term will bring. But, until the laws on immigration and free trade are actually set down, no one can really predict what will happen. The UK CNC industry cannot survive without trade deals and the access to affordable employees from abroad. What may be a boost in local industry will not help the industry in the long run.
CNC Turning Bristol based is just one area of the industry that will be affected. With CNC growing every day and new technology and advancements making the sector increasingly important to our country, securing a secure future for CNC must be a priority for our government and our country.
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