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There are few events in a person’s lifetime that are truly historic – few collective moments when the pivot of history turns to face a new and unexpected path. But so it was last month, when the population of the UK woke up to the fact that it was no longer European.
The difference between the Leave and Remain vote was slim – 52 to 48% – which, for such a monumental decision, is a narrow margin by any account. Most from the business and engineering communities had called for the UK to remain in Europe. A survey of IMechE members revealed that 56% wanted to stay in, believing it was best for their profession and industry.
Faced with its largest constitutional change since the dissolution of the British Empire, the country reeled in shock. The pace of events in the aftermath of the vote didn’t abate – the Prime Minister announced his resignation, stock markets tumbled, the Scottish government said it wanted to rerun its independence referendum, and some EU leaders demanded the UK’s immediate departure.
Events will continue to unfurl and tough decisions will have to be made. It’s difficult to predict what will happen to engineers and industry during such a changeable time. Likewise, it’s easy to get carried away with the hysteria.
However, part of the problem many people had with the Leave campaign was the lack of a plan to handle an exit from the EU and the accompanying fall-out. Most business people and engineers abhor uncertainty, and backed Remain to avoid it.
At the time of writing, the government has released no such plan on how it intends to deal with the numerous challenges UK industry and engineering now faces. Admittedly, the absence of planning is not a new experience. The lack of engineering and industry expertise within central government is a perennial and regrettable problem. A coherent industrial strategy, let alone a detailed one, has manifestly failed to influence the trajectory of the economy for decades.
Perhaps the “taking back of control” due to occur within the next two years will allow for a more effective strategy. We could see major infrastructure projects such as HS2 and Hinkley Point, if they go ahead, forced to use only British steel and to favour British suppliers. We could see manufacturing reinvigorated because of the fall in the value of the pound. We could see businesses freed from the red tape the Leave campaign has said holds them back.
But there is now a host of new challenges facing the government. Major multinational engineering companies, which make up most of our industrial capacity, will significantly scale back their investment. Millions of euros of funding for development of technology could disappear. There is the prospect of a science and engineering brain drain.
While the government struggles to manage the many different aspects of Brexit, it remains to be seen if such challenges will be properly dealt with. Now, UK engineering and industry needs a post-Brexit plan. This requires careful decisions over the coming months, made with clarity to promote stability.
As politics and politicians reshuffle and realign to the new reality, let’s hope this can be provided, that we are not diminished, and that British industry and commerce can rise as a result.
Contact: Ben Sampson, PE Editor, at Unit G4, Harbour Yard, London SW10 0XD. ben.sampson@caspianmedia.com