The UK’s proposed exit from the European Union (‘Brexit’) is likely to have an effect on a wide array of economic issues including the trade of goods and services, labour supply, regulation, the strength of sterling and the visitor economy.
At the time of preparing this part of the strategy (late 2017), it is not possible or productive to attempt to predict the outcome of the international dialogue which will determine the terms of the UK’s exit, future trading relationships with the EU and trade deals with non-EU countries.
Nonetheless, Derby City Council is already working alongside the D2N2 LEP and the Midlands Engine coalition to ensure that the City’s economic needs – particularly the global trading future of its largest production businesses – are properly represented in the national dialogue on the UK’s post-EU economic future. This requires the continual development of an outward-looking city approach and collaboration with regional partners to present a unified and stronger voice to the outside world.
A summit of key public and private sector representatives in Derby was convened in November 2016 and identified the emerging key themes for the City’s response to Brexit:
- building international links;
- closer regional collaboration;
- improved education and aspirations;
- focus on world-class quality; and
- adopting a long term economic and commercial outlook.[v]
[v] University of Derby event: Making Brexit Work for Derby, November 21 2016