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The Question Of Brexit For Britain’s Marine Industry

18th September 2017
Boats for sale at last year’s Southampton Boat Show Boats for sale at last year’s Southampton Boat Show Photo: Southampton Boat Show/YouTube

#Brexit - What will Brexit mean for Britain’s marine industry?

That’s the question that was posed by MoneyWeek to leading figures in the sector on the eve of the Southampton Boat Show, which continues this week.

There is broad agreement that the weaker pound has been beneficial, especially against the dollar for boat sales to the US – a much bigger market for some boat builders than closer to home.

Britain’s marine leisure sector has also experienced a boost from overseas visitors and a growth in domestic tourism, to match the return of confidence to the boat sales market.

Employment is another matter, as around a fifth of the industry is currently staffed by EU citizens from outside of the UK.

Policy and trade are also a concern, as Brexit means the UK would no longer have a direct influence over EU directives pertaining to regulation of the marine industry.

MoneyWeek has much more on the story HERE.

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