Aerospace industry urges Withdrawal Agreement

Posted on 9 Jan 2019 by Maddy White

Businesses from the British aerospace industry are urging MPs to approve the Withdrawal Agreement negotiated between the UK government and the EU, as Parliament debates it today.

Stock UK Aerospace Clouds Aeroplane Aviation
A Withdrawal Agreement would confirm a longer transition period for businesses.

Aerospace, defence, security and space trade association (ADS) and member companies including Airbus and Rolls-Royce have invited MPs to meet them in Parliament, to discuss industry’s support for the Withdrawal Agreement.

With Brexit encroaching, the aerospace industry is looking to politicians to deliver certainty over arrangements after the UK leaves the EU in March.

What is the Withdrawal Agreement?

The Withdrawal Agreement would confirm a longer transition period for businesses, and enable the government time to develop and agree a comprehensive deal over Britain’s future relationship with the EU that will take effect once the transition period ends.

The advice comes after more companies ramp up their ‘No-Deal’ Brexit preparation; businesses have increased stockpiling of goods and slowed investment.

ADS chief executive, Paul Everitt said in a statement, “With very little time now remaining before the UK leaves the EU, continued uncertainty is damaging to business investment and is forcing companies to implement costly contingency plans.

He said that is in the “best interests” of the UK’s aerospace, defence, security and space industries for a Withdrawal Agreement. “Further delay increases the risk of a no deal Brexit. This would be the worst possible outcome and would bring significant disruption to industry in the UK and Europe, damaging jobs and growth.”

Everitt concluded: “We hope MPs now take the earliest opportunity to approve the Withdrawal Agreement, confirming a transition period and allowing talks on our future relationship with the EU to progress.”

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