Chloe Smith MP (Remain): What Would Brexit Mean For Construction? | The B1M

TL;DR

Leaving the EU could affect the construction industry's trade deals, labor force, and regulations.

Transcript

hello and welcome to a very special beer alone video or about what the EU referendum will mean for the construction industry this is a two-part piece here i'm joined by chloe smith who is conservative MP for norwich north she's also advocating the remains side of the debate thank you form with Larry we appreciate it obviously this could affect the ... Read More

Key Insights

• 📭 Leaving the EU could potentially open up opportunities for trade deals and investment in the construction industry, but staying in the EU provides economic security and lower business costs.
• 🥶 The free movement of labor within the EU benefits the industry by allowing for the free flow of products, services, and expertise.
• 💪 Developing a strong domestic skill base is crucial for the industry, regardless of international agreements.
• 🤢 Being part of the EU provides the UK with a seat at the table for trade deals and shared regulations.
• 🌐 Climate change and other global issues require international collaboration, making EU membership important.
• 👷 The UK's trade with the EU represents a significant market and customer base for the construction industry.
• 👯 Young people's engagement in the EU referendum is crucial for the future of democracy and political representation.

Questions & Answers

Q: How would leaving the EU affect trade deals for the construction industry?

Leaving the EU could potentially allow the UK to attract more investments and trade deals with countries outside the EU. However, being part of the EU provides a trading market that makes business costs lower, creates jobs, and ensures economic security.

Q: What is the benefit of the free movement of labor within the EU for the construction industry?

The free movement of labor allows for the free flow of both products and services within the construction industry. Additionally, it enables experts to move between countries where their skills are needed, promoting innovation and growth.

Q: Does the construction industry need to focus on developing its own labor force instead of relying on migrant workers?

While it is important to develop a robust domestic skill base, the benefits of the free movement of labor within the EU contribute to the industry's growth and innovation. Restricting labor movement to one country could limit the industry's ability to do exciting and innovative things.

Q: How would leaving the EU affect regulations for small businesses in the construction industry?

EU regulations may be seen as suffocating to some small businesses. However, it is important to note that only around 13 percent of the UK's laws originated in Brussels. Climate change laws, for example, would still be necessary whether in combination with other countries or on its own.

Summary & Key Takeaways

• Leaving the EU could potentially allow the UK to attract more investment into the construction industry and form trade deals with other countries. However, staying in the EU provides lower business costs, more jobs, and economic security.

• The free movement of labor within the EU benefits the construction industry by allowing for the free flow of both products and services, as well as expertise and innovation.

• EU membership provides a seat at the table for trade deals and sharing regulations, which is important for a globalized industry like construction. However, there should also be a focus on developing a strong domestic skill base.