Process industry sets the scene for a post-Brexit future
Brexit's impact on the process industry.
By Grimsby Telegraph | Posted: 17 Nov 2016
CHEMICAL and pharmaceutical companies from across the UK will today set the scene for the industry's post-Brexit future.
The industry is critical to the Humber, as one of the major process industry hubs, and is estimated to be worth £6 billion to the economy.
In a speech to the annual conference of the Chemical Industries Association to be held tonight, board member Dr Tony Bastock OBE will build on the Brexit manifesto revealed last month.
He said: "If we can get our four key targets of tariff-free access to the single market, the ability to recruit talent to key jobs from around the world, the supply of competitive and secure energy and a policy framework that encourages scientific progress leading to sustainable growth then we have clear signs that businesses will want to invest and grow UK operations."
More than £4 billion of capital and research and development investment is made by UK chemical and pharmaceutical companies.
The sector employs around 140,000 people directly and supports around 500,000 jobs in the UK. The direct workforce is highly skilled and earns on average 30 per cent more than the average UK manufacturing worker.
Steve Elliott, chief executive of the CIA said: "Our latest survey of member companies shows the very real concern that companies have. We want to ensure that we do all we can to continue and grow investment. While much of this is dependent on getting the right future EU deal, our industry is responding to Brexit, taking the opportunity wherever possible – be it Europe, North America or Asia, to maximise new opportunities”.
Also at the event, in central London, will be Minister for Exiting the European Union, Robin Walker
He will say: "The UK chemicals sector and its products underpin the UK economy, from supplying the automotive and aerospace sectors to pharmaceuticals and agriculture.
"That is why it is vital for the nation that we lay the foundations for the UK to continue to be a world leader in chemicals and after we leave the EU."