Gisela Stuart MP (Leave): What Would Brexit Mean For Construction? | The B1M | Summary and Q&A

TL;DR

The EU referendum brings uncertainty to the construction industry, with potential effects on funding, investments, and trade conditions.

Key Insights

• 👷 The construction industry is concerned about the uncertainty surrounding the EU referendum, which could affect funding and investments.
• 🍃 Material imports and exports could be impacted by changes in trade conditions if the UK leaves the EU.
• 👷 Labor shortages in the construction industry may worsen if hiring EU workers becomes more challenging.
• 🫥 The EU referendum highlights a deep fault line regarding skill shortages and the need for investing in training within the UK.
• 🗯️ The Brexit vote will not result in immediate changes, as negotiations will take time, and existing rights for EU workers in the UK will continue.
• 👯 The falling pound may attract more people to the UK, creating challenges in managing a potential influx of individuals seeking better wages.
• 🏤 The eurozone's economic model and the dominance of Germany pose challenges for the stability of the euro as a currency.

Transcript

hello and welcome to a very special payment and video all about what the e referendum means to the construction industry this is a two-part piece here I'm joined by Jesus - it's who is Labour MP for Birmingham Edgbaston and also chairwoman of the folk belief campaign thank you much for being with us use that obviously there's a number of factors th... Read More

Questions & Answers

Q: Why is uncertainty a major concern for the construction industry in relation to the EU referendum?

Uncertainty surrounding the Brexit vote affects progress, funding, and investments in the construction industry, making it a significant concern for industry leaders.

Q: Will leaving the EU make material imports and exports more expensive?

The impact of the falling pound on material imports and exports is uncertain, as shifting exchange rates can make imports more expensive while also potentially making exports cheaper.

Q: How does the construction industry rely on EU regulations and rules?

The construction industry is bound by EU-wide rules, but leaving the EU could offer an opportunity for more appropriate UK-specific regulations, while still allowing for trade with EU and non-EU suppliers.

Q: How does the EU referendum affect the availability of labor in the construction industry?

As a significant proportion of the construction industry relies on EU workers, leaving the EU could make it more difficult to hire skilled labor and could worsen existing labor shortages.

Summary & Key Takeaways

• Uncertainty surrounding the EU referendum could impact the construction industry, with challenges in terms of progress, funding, and investments.

• Material imports and exports may be affected, as trade conditions could change if the UK leaves the EU.

• Labor shortages and skills gaps in the construction industry may worsen if the ability to hire EU workers becomes more difficult.