{"id":49978,"date":"2018-12-07T11:16:50","date_gmt":"2018-12-07T11:16:50","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=49978"},"modified":"2018-12-07T11:16:50","modified_gmt":"2018-12-07T11:16:50","slug":"no-deal-brexit-cost-insulation-manufacturer","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/no-deal-brexit-cost-insulation-manufacturer\/49978\/","title":{"rendered":"No-deal Brexit could cost insulation manufacturer \u00a385,000 per year"},"content":{"rendered":"

Family owned insulation manufacturer, SuperFOIL Insulation<\/a> estimates that a no-deal Brexit could cost it \u00a345,000 to \u00a385,000 per year<\/h2>\n

SuperFOIL\u2019s estimate is based on a report published by HM Treasury<\/a> last month which calculated that a no-deal Brexit could make the UK\u2019s economy 9.3% smaller over 15 years.<\/p>\n

The HM Treasury analysis also shows that the impact for manufacturers in a no-deal scenario would be the equivalent to, on average, 9-17% of the value of EU trade compared to today\u2019s arrangements.<\/p>\n

SuperFOIL, which employs 16 people near Tuxford in Nottinghamshire and sells 20% of its multi-foil insulation in the EU is making its calculations public in the hope that it will help people to better understand the potential consequences of a no-deal Brexit.<\/p>\n

Managing director of SuperFOIL, William Bown said: \u201cWhenever politicians discuss the consequences of the different deals, it\u2019s hard to put things in context and see how it would affect individual businesses and communities. We\u2019re a small, family-run business making a high-performance, innovative product and exporting our insulation to the EU forms a big part of our income.<\/p>\n

\u201cAny additional costs we incur or anything that would make us less competitive in the European market would have a direct impact on our profits. That means we\u2019d have to either increase our prices and pass the cost on to our customers or we\u2019d have to make significant savings. If the consequences of a no-deal are as bad as the Treasury forecasts, that means we probably won\u2019t be able to take on any new employees and we might even have to let people go – it\u2019s as serious as that.<\/p>\n

\u201cI was born in Sheffield and I\u2019ve lived in Nottinghamshire since I was two but I\u2019ve always considered myself a European and being able to trade fairly and easily with developers in the EU has played a major part in the success of our business: It\u2019s helped us to grow and to employ more people locally. I just want people to know how much this might cost our business and how this would limit our ability to create jobs in future.\u201d<\/p>\n

The government\u2019s predictions that have been used for this estimate are based on a no deal situation in which:<\/p>\n