This Thursday Britain will make a decision. The decision is whether to leave the European Union or remain in the position they currently fulfill. As the day draws closer, engineering experts have unequivocally supported a 'STAY' vote. Experts say that if Britain does leave the European Union, they might be cutting off their noses to spite their face, especially in engineering industries. And the warnings keep streaming in.
"The fact that we source talent from the best universities in continental Europe is to the benefit of the UK economy because they help us to design infrastructure in the country," said Chief Executive of WS Atkins Plc, Uwe Krueger, speaking to Reuters News Agency.
We have already reported what leaving the EU means for civil engineering due to already spiraling figures in the industry. The data done by market analysts shows that civil engineering activity in the country had slowed down. The Brexit vote has notoriously damaged steel workers' outputs significantly.
However, now experts like Krueger are warning that A-grade engineering graduates will be last in line when it comes to engineering talent. Rolls-Royce is another engineering company that has said it would be better for their interests if Britain remained in the EU. The company drafted a formal letter that said their stance is that they want to remain 'IN'. Chief executive, Warren East, has been quoted saying that their new engine testing plant could be in danger of losing profits if Britain exit the EU.
He was quoted from a BBC Radio interview: "We're making investment decisions all of the time about where to place different parts of our operation, and uncertainty created by Brexit puts a lot of those decisions on hold and that pause is something that our US competitors don't have to cope with. That's why it's not good for us."
It's not only Britain's own industries that might struggle to recover from the lack of investment after a hypothetical 'OUT' vote. According to the Wall Street Journal, German exports estimations will have to be tweaked if Britain exit the EU.
The president of the Federation of German Wholesale, Foreign Trade, and Services, Anton F. Börner said: "Brexit leads to insecurity and a loss of trust over the years. This is poison for the economy in the UK and in all of Europe."
The fact of the matter is, the polls have been 50/50 in the lead up to the referendum and only by Thursday will we know whether or not to keep focused on how a Brexit could affect engineering in the UK.
