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MLM backing campaign for UK to stay in Europe

MLM backing campaign for UK to stay in Europe - News - MLM

One of the largest engineering and environmental consultancies in the UK has announced its support to Remain in the European Union.

In a statement issued today, Chairman of the MLM group, Steve Oliver, outlined concerns held by the international firm’s board of directors should the UK leave the EU, including uncertainty into the future of the construction sector and fears that Brexit could have a detrimental effect on investment confidence, the cost of doing business and access to skilled workers.

Steve commented: “50 years experience in business has taught us that we are most successful when the trading environment is stable and confidence is positive in the marketplace. We are already experiencing uncertainty with investment decisions, delaying construction projects, with the knock on effect on suppliers and consultants. In the event of a ‘stay’ decision, we have been advised by investors that the appetite for inward investment into the UK will return, if not increase.”

Continuing to speak about the impacts of a leave decision, Neil Cooper, CEO, commented: “The majority view of independent authorities is that leaving the EU will be materially prejudicial to the economy in the short to long term. MLM does not consider that to be an acceptable outcome.”

He explains: “If the UK leaves, the cost of doing business will rise, as Sterling will fall relative to other currencies, raising the cost of materials, good and services. Sterling will lose its current status and credit rating, meaning interest rate rises. MLM currently has access to low cost capital for growth and inevitably parting from the EU could result in reduced growth.

“Of equal concern, 20% of MLM engineers and surveyors are from the EU and access to skilled, expert people has been a key contributor to our success. Many of these hard working, committed and valued employees are already considering their future. The perception of ‘closed doors’ as a result of leaving the EU will directly damage our business.”

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