Four in 10 UK-based manufacturers have moved to domesticate supply lines in the past year as concerns grow over post-Brexit trading and costs soar, says industry body Make UK.
Half of the 100 plus companies surveyed by Make UK also claimed European Union-based suppliers were cautious about dealing with British companies following the country’s departure from the bloc.
“The political mismanagement of our economy and damage to the reputation of the UK as a partner on such a grand scale […] cannot continue,” Make UK chief executive Stephen Phipson will say in a speech to industry members on Tuesday.
“We need to reset our political and trading relationship with the EU which has been marked by such rancour.”
Calling on the government to do more, Make UK tweeted: “Manufacturers need certainty and stability with long term policies that reduce business cost, reboots confidence and helps them retain their international competitiveness.”