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Brexit vote sends shockwaves through industry

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June 24 2016

Brexit vote sends shockwaves through industry
A narrow vote for Britain to exit the EU by 51.9 per cent to 48.1 per cent has sent shockwaves through the construction sector as businesses grapple to understand the potential consequences.

In advance of the crunch vote many figures voiced concerns that a decision to Leave could have on confidence going forward, not to mention the high reliance many have on sourcing staff from the continent.

Peter Wilson, director, Timber Design Initiatives commented: “Brexit will completely stymie entries by British starchitects to all those competition projects in Europe that they’ve been doing pretty well in up until now. Will we see Chipperfield et al relocating completely to offices in Europe?

“From a personal perspective, I couldn’t have done the work I’d been involved in over the past several years had it not been for substantial European funding - for which there was, and is, no equivalent in the UK. Brexit will hit University funding very hard since a very substantial proportion of their research funds come from Europe, with whatever UK research funding as exists already increasingly pointed to what are known as the Russell Group of universities (aka the elite - traditional ones like Cambridge, Edinburgh, Oxford and St Andrews.”

Despite a slim UK-wide majority for Leave many nations and regions of the UK voted Remain, notably Scotland which voted 62 to 38 per cent in favour of staying in the EU, sparking concerns of a prolonged period of constitutional uncertainty.

14 Comments

Matt Ansell
#1 Posted by Matt Ansell on 24 Jun 2016 at 13:04 PM
There is more at stake than the entries of British Starchitects entering competitions and funding for timber research Mr Wilson.
Brexit could be just the start...Recession, Indy Referendum Mk2 and a plummeting oil price is more pressing than if Chipper' relocates to Berlin...
Britain, and in particular Scotland could be an investment vacuum for years....
Kevan Shaw
#2 Posted by Kevan Shaw on 24 Jun 2016 at 13:25 PM
Alternatively a clear declaration for Scotland to remain in the EU could provide lots of inward investment for companies fleeing England to remain in the EU zone, meanwhile a drop in the £ value makes our design services even better value for foreign projects! We need to "keep the heid" and hope that the money men do not act to daft this time (though that might be a big ask!)
Terra
#3 Posted by Terra on 24 Jun 2016 at 13:30 PM
This is why universal suffrage is a stupid idea in my opinion.
donal
#4 Posted by donal on 24 Jun 2016 at 13:32 PM
Have already had one project effectively suspended indefinitely this morning as a direct result. Building industry is going to be very badly impacted from this and I am sure we will see costs of products rise.
Stephen
#5 Posted by Stephen on 24 Jun 2016 at 13:58 PM
@2. Kevan, generalising negatively about 'Westminster' and 'the money men' is one of the problems in all this in my opinion. The ignorant have voted en masse with their mis-trust against exactly these stereotypes. Jo Cox for one highlighted that the evil politician is a divisive and unhelpful lie. Likewise the money men gave perfectly reasonable assessments of what they thought would happen if Britain leaves the EEA - which by the way it's far from certain that we will.
Concerned
#6 Posted by Concerned on 24 Jun 2016 at 15:14 PM
In the short term the pound dropping allows us to have very competitive fee for our services. What we don't know is, given the uncertainty and timescales of projects, if EU clients are willing to take the risk? The other unknown is how long UK companies will be eligible to bid for work through OJEU notices?
Islands of sanity
#7 Posted by Islands of sanity on 24 Jun 2016 at 16:00 PM
#2. The EU have made it clear that if Scotland goes solo, they will lose their EU membership and have to join the queue. The reason for this is that they dont want to encourage further balkanisation, such as the Catalans or the Basques. However if we go down that route there will be an interregnum, not continuity for the English to jump ship. I am aghast at the result, why give away 70 years of peace, stability, continuity and a general increase in economic wellbeing for an emotional burst and leap into the unknown.
Stephen
#8 Posted by Stephen on 24 Jun 2016 at 16:18 PM
@7. Better to be in the queue to join than jumping out the trapdoor no?
That said, Isn't it far from a foregone conclusion there'd be an independence vote in a new indyref? What sort of Europe will be left to join at that point? With Marine Le Pen at the helm and the others (e.g. Sweden) heading for the exits as well?!
Terra
#9 Posted by Terra on 24 Jun 2016 at 19:29 PM
#5 well said. Agree completely.
Roberto
#10 Posted by Roberto on 28 Jun 2016 at 11:01 AM
#7. That was then, this is now. The EU has been ideologically opposed to Scottish independence for the reasons noted but a UK exit puts a different complexion on things and they may well be more open minded now.
The Bairn
#11 Posted by The Bairn on 29 Jun 2016 at 16:44 PM
Hey guys...
In the UK wide Referendum on EU membership the LEAVE campaign was the majority vote.
Such is life in a free democratic vote.
Please get over it, stop navel gazing and move forward. Each and every election in our country is like this. The losers always complain.
Pete
#12 Posted by Pete on 29 Jun 2016 at 17:41 PM
Very considered Bairn. What's the point in analysing anything after the event? Lets just crash on.
I'm confused though, aren't most of the comments about what Scotland can do to 'move forward'?
Maybe you're just indulging your ego to have a dig at some 'losers'?
Terra
#13 Posted by Terra on 30 Jun 2016 at 10:17 AM
#11

"DISSENT DETECTED. INITIATING BELITTLING PROTOCOL."
The Bairn
#14 Posted by The Bairn on 30 Jun 2016 at 13:36 PM
#12
No actually, just stating the obvious...
Lets move forward and make the best of Brexit for the benefit of the UK as a whole.
David Cameron sets the prime example as someone who sees the good sense in working with the result not fighting against it!! No need to go cap in hand and beg for EU money like others I can name.

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