| Topic: | Re:Re:Re:Re:Pound hits new low on Brexit nerves | |
| Posted by: | Michael Robinson | |
| Date/Time: | 06/07/16 10:56:00 |
| Generic medicines manufactured in India will be purchased in US dollars so the prices will be going up. If don't know the pharma sector well, but if there are EU requirements for licensing and regulating drugs and the UK is outside this regime, I'd say you can certainly expect an Indian company to move its main European base to the EU. There already has been reports that the European Medicines Agency will be moving out of London and if the Indian company set up in London for proximity to this, then they will be moving as well. That doesn't mean no UK presence but the staffing for the office would reflect a market of 60 million people rather than a market of over 600 million so fewer people employed than would have been the case if the UK was within the EU. As for "vehicles made in the UK", how many of the components are made in the UK? The crunch for UK car manufacturing will come when new models are introduced because that is when decisions are made about the location of factories because of the large cost and investment to re-tool for new models. You can see the UK government being desperate to keep manufacturing so the UK taxpayer may end up subsidising the factories anyway. That is hardly the mark of a thriving economy. Even if we go back to bikes, that means Bromptons as they are the only volume bike manufacturer left in the UK. Even then, their steel comes from Taiwan as there are no manufacturers of this type of specialist steel left in the UK. Pretty well everything else is imported from Taiwan and China and paid for in US dollars, so prices will be going up... The real battleground will be the UK financial services market as that is where some EU countries see an opportunity to grab business. They'll be more than happy to "concede" on goods but put up barriers to services. |