inspire BUSINESS WEST – CONNECTING BUSINESSES COMMENT & OPINION Keeping you up-to-date with the latest political policies and decisions that affect South West businesses
Port becomes key hub for power plant
The Bristol Port Company is one of the key South-West businesses supporting the creation of Britain's first new nuclear power plant in more than 20 years, Hinkley Point C. The significant role played by the Port in
the logistics supply chain for the multi- billion pound project was recognised by the Department for Business, Energy and Industrial Strategy (BEIS), and EDF Energy, the power giant behind the new plant. The Port has won contracts which make it a critical hub for the infrastructure required to develop one of the largest building sites in Europe for the next 10 years. David Brown, CEO, said: “We are hugely proud to be involved in the Hinkley Point C contract. “The site is only 32 sea miles from us, 45
road miles, and we’ve become involved in every single element of the supply chain.” Balfour Beatty, one of the main
contractors for the EDF Energy site recently moved on to the Port estate where tunnel sections and underwater heads that will provide the power station with cooling water will be manufactured. Additional land is also being provided for the storage of Abnormal Indivisible Loads equipment that is too big to move on the motorway network and will be transported to Hinkley by barge. EDF Energy have been working with a
number of local supply chain operators. Figures released by BEIS show that companies in the South West have now won contracts worth more than £1.3 bn for the project. Minister for Business and Industry,
Richard Harrington MP, said: "Hinkley Point C will be pivotal in providing clean energy for the future, as well as creating high- skilled jobs in the South-West, with companies becoming world leaders in nuclear construction and services, all part of our flagship modern Industrial Strategy.”
Bristol Port The expert panel at the Brexit event
Key Brexit advice shared by experts
By Rohan Roy Policy Assistant, Business West
In the first of a series of meet-ups, members of Bristol’s business community came together at PwC’s offices in Temple Quarter to discuss what changes Brexit might bring and what actions they can take now. The Bristol Brexit Assembly heard from an esteemed panel, which was made up of experts in their respective fields, and who each approach Brexit from a different perspective. On the panel was Business
this will actually look like for businesses will depend very much on whether a transition agreement has been reached by that point. If it has, regulations and trading will stay the same until the end of 2020. This will mean continuity for businesses and more time to prepare. If there is no agreement, however, it will mean
West’s very own director of policy, Matt Griffith, who has substantial experience in international trade policy and in-depth knowledge of the Bristol economy. He was joined by Phil Sypris, professor of EU Law at Bristol University, who has been involved in the legal machinations of Brexit. The other panellists were Keith Rundle, operations director for the Bristol City Centre Business Improvement District, Ray Taylor, director of policy at PwC, and Anne O’Donnell, CEO of Procorre. The host was Mike Norton, editor of the Bristol Post. The discussion began on the topic of the timeline, on what has happened so far and when we can expect decisions to be made. Phil took us through the legalities of the UK’s exit. As per the Article 50 text, the UK will officially cease to be a member of the EU on 29 March 2019. What
14 insight NOVEMBER/DECEMBER 2018
‘If there is no agreement, it will mean all trade with the EU will be done on WTO terms’
all trade with the EU will be done on WTO terms and a cessation of EU regulation and certification in the UK. On preparing for a no- deal, Matt made the point that it is a high cost exercise, in which businesses examine their supply chains, discuss with their suppliers and distributors in Europe, expand storage capacity and become accustomed with customs documentation. Questions were raised on the likelihood of new trade deals, the rights of EU citizens living in the UK and the immigration regime to expect. All of these, the panel agreed, were subject to
whether there is a deal, and what that deal will look like. It was noted however that
the Department for International Trade is currently focussing its energies on replicating the existing Free Trade Agreements that we currently have through membership of the EU. The right of those EU citizens to stay has been confirmed, although it is unsure of when the cut- off point for this is. As for immigration, the Government is proposing that EU citizens be treated on the same basis as other immigrants, who must currently be earning over £30,000 to enter.
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