This new CBI report comes from the heart of British business. It provides an unparalleled evidence base to inform good decisions that will protect jobs and living standards across the UK. From architects to zoos, it outlines the regulatory needs of 23 industry and service sectors, of which 18 prefer convergence or alignment for the majority of regulation that matters. We hope it proves useful.
UK industry in the 21st century is both complicated and highly integrated, and individual businesses do not fit easily into sectors. Many firms offer both goods and services – such as technology companies where hardware doesn’t function without software, or any business offering customer support, repairs or financial products like credit alongside their goods.
The future of a professional services company will always rely more on how its customers fare than the fortunes of its fellow professional services firms. A textile firm may supply the same carpet product for both aerospace and construction firms.
When negotiators work on the future relationship between UK and EU rules, an understanding of this interconnectedness is essential. There are five areas where assumptions must be challenged and where the reality for businesses is more complex than it seems.
The CBI study, compiled over a six-month period, says Brexit presents opportunities for rule changes in sectors such as agriculture, shipping and tourism that could benefit the British economy and consumers. The report is based on thousands of conversations with UK businesses, as well as dozens of leading trade associations.
The CBI and our members look forward to continuing to work with government to secure the best possible outcome for our country in the vital months ahead.