Deal or no deal : construction’s post-Brexit future hangs in the balance

Brexit-Building

There’s been plenty of talk about potentially leaving the EU without a deal, but very little detail. In the first of two articles launching our Building Without Borders campaign, Joey Gardiner examines the likely consequences of a no-deal Brexit for construction.

In July last year the Brexiter international trade secretary Liam Fox boasted that a free trade agreement with the EU would be the “easiest in human history” to strike. Thirteen months later, things look very different, with obstacles to concluding a deal – particularly in relation to the Irish border – appearing to grow harder to surmount with every passing day. 

As Brexit secretary Dominic Raab steps up contingency planning, Bank of England governor Mark Carney has said the prospects of a no-deal Brexit are now “uncomfortably high”. Even Liam Fox has now admitted the chances are 60:40 in favour of crashing out of the EU. 

There is no shortage of business voices saying what a disaster a no-deal Brexit would be. But many ardent Brexiters maintain this is actually the best possible outcome for the UK’s future. So, what would it actually mean for construction? 

“If you try to plan for any particular scenario, there are just so many permutations it makes it impossible”

Will Waller, Arcadis

Having triggered Article 50 of the Treaty of the European Union, the UK is set to leave the EU on 29 March 2019. If a withdrawal deal is agreed, a transition period would apply until December 2020, during which, essentially, nothing will change, giving time for the UK and EU to thrash out what exactly life will look like after. But if no agreement is reached, the UK faces the prospect of exiting the EU in less than eight months’ time without any vision – let alone a legal framework – for our future relationship with the bloc.

So, what are the specific practical concerns over how construction firms will operate in the days following departure? Here, Building reads the fine print.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

 

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

  • Limited access to building.co.uk
  • Breaking industry news as it happens
  • Breaking, daily and weekly e-newsletters

Get your free guest access  SIGN UP TODAY

Gated access promo

Subscribe now for unlimited access

 

Subscribe to Building today and you will benefit from:

  • Unlimited access to all stories including expert analysis and comment from industry leaders
  • Our league tables, cost models and economics data
  • Our online archive of over 10,000 articles
  • Building magazine digital editions
  • Building magazine print editions
  • Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community