As the realization of Brexit starts to sink in with the business community, we’re starting to see businesses and business leaders give their initial reactions to perhaps the biggest political and economical upheaval since the second World War.
First up, the GGF with their statement:
Following last week’s EU Referendum and with the UK population voting to leave the European Union, the GGF remains open-minded about the changes that will come and will continue to work with parliamentarians and Government departments on the many issues affecting the glass and glazing industry.
Nigel Rees, GGF Chief Executive commented, “The GGF Membership can rest assured that we will continue to deliver the same level of benefits and service for our Members. In the short term, we must wait until the Party Conferences this autumn and see how the political parties shape their leadership, policies and direction going forward. There is no doubt that the implications of Brexit and the political uncertainty is already sending economic shockwaves through the construction and property sector, the scale of which may not be clear for some time and as such a tough trading climate that will impact companies both large and small is anticipated. In the meantime, we remain open-minded and will work in the background with our political advisers GK Strategy, our Members and key influencers in the broader construction industry to plan for all scenarios. I am confident that the Federation will be in a stronger lobbying position once the dust has settled on last week’s referendum. We will of course continue to keep our members, well informed as to the unfurling impact on our campaigns and our activities to ensure they are well-positioned to cope with any changes.”
Steady as she goes
Looking at what the GGF are saying, in the interim nothing is going to change from their perspective, and they see no reason why their normal business will be disrupted in the short term.
However they do anticipate a rough time ahead for businesses of all sizes. How much of an impact that may actually turn out to be remains to be seen.
The sooner formal negotiations can begin, the sooner the Conservatives and Labour can install new leaders, the sooner Article 50 is triggered by a new Prime Minister then the sooner calm and stability can return to the markets.
I do feel that once formal plans are in place, the economic outlook may become more positive, as that is the only way to restore calm and reduce uncertainty.
Over the coming few days I fully expect other businesses in the UK glazing sector to come out with their own statements and guidance. I am surprised that there hasn’t been any more up to now. But by the end of the week I expect some of the industry’s biggest players to have come out with their own thoughts on the matter.
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