Home / Knowledge / News / Apparel/Garments / British retail wants govt to move quickly post Brexit
British retail wants govt to move quickly post Brexit
01
Jul '16
The British Retail Consortium (BRC) has said that following the Brexit vote, the Government must move quickly to explain the process of disengagement from the EU.

“Without clarity, retailers, other businesses and hence the economy will suffer from a prolonged period of uncertainty,” it said in a statement.

“We are already seeing the commencement of a period of considerable volatility as financial markets react to any emerging information that might indicate how the new relationship to the EU might be shaped. Retailers should be prepared for the possibility of significant swings, particularly in the exchange rate and consumer confidence,” the BRC warned.

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."

In its exit negotiations the Government should aim to ensure that the trade benefits of the Single Market (i.e. the absence of customs duties) are replicated in the UK's new relationship with the EU, the BRC said.

Another trade body, the Creative Industries Federation has pledged to play a positive role in safeguarding the future of the UK's arts, creative industries and cultural education and their significant contribution to the economy in light of the decision to leave the European Union.
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.”

After a campaign that highlighted deep social, geographic and economic divisions, the role the arts can play will be significant. “Within the UK, we will play our part in helping to bridge divides within and between the nations and regions of the country.”

The Federation, whose members' poll showed an overwhelming vote in favour of remaining with the EU, plans to hold a series of events to engage the creative community on charting a way ahead, it said in a statement.

A weaker British Pound means that British companies will spend more on production costs in other countries, and will have to pass on those expenses to the shoppers by raising prices; if it's harder for other EU citizens to visit England, it may also cut down on shopping by European tourists. Not surprisingly, 90 per cent of the members of the British Fashion Council wanted to stay in the EU.

But a weak Pound may boost British fashion label Burberry. While the plummeting pound is bad for Brits, it's nice for foreigners who'd like to visit England. It means your trip to London will be a lot cheaper. So Burberry's eventual higher costs may be offset by American tourists buying up Burberry threads in England. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search