A total of 100 companies took part in a BPF survey in December 2018. In all, two-thirds of respondents said they did not expect Brexit to benefit their business. Only 7% of respondents expected Brexit to be beneficial.
Overall, a total of 76% of respondents said a no-deal Brexit would have a negative or very negative impact on their business. In total, 53% said they were making contingency plans in case it occurs.
Additionally, fully 63% of plastics companies are expecting Brexit to cause significant disruption to their supply chain. Meanwhile, a total of 17% of respondents did not believe such an outcome would have any effect on their business..
The survey also highlighted that a number of wide ranging topics connected with Brexit were making business owners concerned or very concerned. Topping the list were:
- Customs and border delays (88%)
- Material supply (78%)
- Tariffs (77%)
- Regulation (66%)
- Labour (54%)
'Brexit remains a deeply divisive issue to this day. But this data shows our industry would clearly prefer to stick with EU regulations. It indicates that the benefits of Brexit – from a plastics manufacturer’s or recycler’s perspective – are hard to see,' said president of the BPF’s Brexit taskforce Mike Boswell.
The UK is set to exit the European Union on 29 March. By that date the UK parliament and a number of other legislative bodies within EU Nations must approve an exit agreement. If they cannot reach a deal, then the UK will leave and will have to use World Trade Organisation tariffs for goods that it imports and exports. These vary considerably from those the UK now enjoys with the EU. Additionally, neither the UK nor the EU would recognise each others' regulations, or standards if a no-deal Brexit occurs.