News Article

Brexit - Chairman of the PMMDA's thoughts

BREXIT – well the British people have made the decision now we all have to see what the future brings. Interestingly enough the majority of the membership were in favour of remain, but then the vote was by the general public and not industry.

There will be some interesting times ahead with many ideas and issues raised before Clause 50 is invoked, but at least we have possibly made the timescale shorter by electing a new Prime Minister.

The new cabinet members and roles are interesting and thought provoking, but the stock markets have reacted pretty well since the various announcements.

The main thing that will effect members is the fluctuation in the currency market, but as we are virtually all importers we are all in the same boat!

From my understanding from our customers and our own experience the situation in the UK has not really changed, the companies considering major capital investment are carrying on regardless, maybe the effect is seen more on the smaller manufacturers who rely on sub-contract work, this has been noticed in the lower value orders being delayed by a month or so.

With the PDM exhibition now completed, I guess everybody is focusing on K Show running from 19th – 26th October, this will be an interesting exhibition to gauge the reaction of UK visitors/exhibitors at the show post Brexit.

The next quarterly column may be of more value when a few more plans for post EU will become known.

Good luck for the second half of 2016.

Kevin Horne
Chairman PMMDA
Managing Director Renmar Limited