A new report by the Centre for Economics and Business Research (CEBR) shows that over 100,000 UK manufacturing jobs across the country will be created by the EU’s single market and would be at risk if we left.
This includes 8,100 jobs to be created in the South East by 2030.
The report comes as leading UK manufacturers gave a warning about the future of UK manufacturing yesterday in an event organised by the “Britain Stronger In Europe” campaign.
The heads of three of the UK’s biggest manufacturing companies – Siemens, Airbus and GKN – combined to say that investment and jobs will be at risk if Britain leaves Europe.
They were joined by over 100 members of the EEF, the manufacturers’ organisation, who warned that leaving Europe mean UK firms would ‘certainly lose jobs’ and would cause ‘years of uncertainty’, and the Manufacturing Technologies Association, who say leaving would be “madness”.
GKN’s CEO, Nigel Stein, said:
“A UK outside of the EU facing increased costs and regulatory uncertainty will lead to companies such as ours finding the UK a less attractive place to invest, which will have an impact on future jobs.”
GKN has three bases in the South East: Cowes, Abingdon and Portsmouth.
In Cowes alone they employ more than 1,000 people.
Vince Cable, the former Liberal Democrat Secretary of State for Business, Innovation and Skills, said:
“More than 8,000 manufacturing jobs in the South East will be created due to our place within the single market. Leaving the EU means those new manufacturing jobs just won’t be created.”
This follows a question and answer session last month led by the Prime Minister and Chancellor of the Exchequer at B&Qs Eastleigh HQ.
George Osbourne used the event to release an HM Treasury forecast predicting 120,000 job losses in the South should the UK leave the EU.
Yesterday South East Ukip MEP Ray Finch hit back, pointing out there have been local job losses during our EU membership:
“The “IN” campaign never mention the 500 jobs lost in Hampshire when the EU bank gave Ford a cheap loan to close the Swaythling Transit factory and move production to Turkey.
“The EU is the tool of corporatist big business and will keep working to keep peoples’ aspirations suppressed by moving cheap labour around for its rich friends.
“Ask the 50% of young Greeks who are unemployed by the EUs policies how it is good for jobs”.
The referendum will be held in three weeks time, on June 23.