UK creative and retail industry bodies weigh in on Brexit

By

Cajsa Lykke Carlson

Published
Jun 27, 2016

With much of the UK still in shock after the Leave vote in last week's EU referendum, two of the country's creative and retail industry organizations have released statements about the future.

The British Retail Consortium, BRC, said the top retail priority for Brexit negotiations will be preservation of single market benefits. BRC CEO, Helen Dickinson, said: "Keeping the cost of goods down for consumers and providing certainty for businesses must be at the heart of the Government's plans for life outside of the EU."

She also stated that it is important the Government moves quickly to explain the process of disengagement from the EU, and added that "Retailers should be prepared for the possibility of significant swings, particularly in the exchange rate and consumer confidence." In the short term, their top priority should be to ensure the continued ease and minimum additional costs of importing EU goods into the UK for sale to customers, Dickinson said.

The Creative Industries Federation, the national membership organisation bringing together all of the UK’s arts, creative industries and cultural education, has also released a post-referendum statement.

John Kampfner, chief executive, said: “As the UK creates a new identity and a new position on the world stage, our arts and creative industries - the fastest growing sector in the economy - will play an important role."

“It will be vital for all sides to work together to ensure that the interests of our sector on issues including access to funding and talent are safeguarded as the UK forges its new relationship with Europe. The importance of British culture in representing our country to the world will be greater than ever.” 

The Federation held a survey before the referendum, which showed more than 96% support for Remain, with 4% in favour of Leave. The creative industries were worth £84.1bn to the UK economy in 2013-2014 and grew by 8.9%. Europe is currently the largest export market for the creative industries, taking 57% of all overseas trade, meaning the Brexit is sure to affect the Federation's members.