British motor firms argue to stay in EU

A number of British automotive firms have declared remaining in the European Union (EU) is important to their businesses.

The high-profile referendum on Britain’s membership of the EU is potentially set to take place later in 2016. A series of case studies was published by The Society of Motor Manufacturers and Traders (SMMT) today from British automotive firms who have said EU membership matters to their business.

The firms include Allied Vehicles, Gasrec, Magal Engineering, HORIBA MIRA, Nifco and Penny Hydraulics, and each study gives examples of how Britain’s EU membership has helped these British business to grow.

A 2014 survey by the SMMT previously found 92% of its surveyed members said remaining in a reformed European Union would be best for their company. More than three quarters also stated that withdrawal could have a negative impact on the size and diversity of foreign investment the UK currently enjoys.

In their responses, companies cited access to funding, the ability to shape technical rules affecting vehicle development, access to the single market and access to talent via the free movement of labour within Europe as reasons to remain in the EU.

SMMT chief executive Mike Hawes said, ‘Britain’s membership of the EU is critical to the future success of the UK automotive sector in terms of jobs, growth and future investment.

‘Our members have been clear that they consider EU membership to be best for business – and the six companies featured in these case studies provide real examples of not only how it has benefited them, but also its huge value for whole automotive industry and the British economy.’