Death by a thousand paper cuts...........
https://www.ft.com/content/349072ab...d178a#myft:notification:instant-email:content
DS Smith to close Kent factory as it pushes ahead in Europe Chief executive calls on UK government to align regulations with EU rules to ease trade
CEO Miles Roberts said the decision to wind down its factory in Aylesford was ‘very regrettable’ © REUTERS DS Smith to close Kent factory as it pushes ahead in Europe on twitter (opens in a new window) DS Smith to close Kent factory as it pushes ahead in Europe
DS Smith to close Kent factory as it pushes ahead in Europe
Britain’s largest packaging company will close its factory in Kent and continue to expand production in Europe, warning that a planned bonfire of EU laws risked plunging the UK into a deeper economic crisis. Miles Roberts, chief executive of DS Smith, said the group’s international business could not continue to subsidise operations in its home country, adding it would be “extremely helpful” for manufacturers if the government aligned regulations “wherever possible” with EU rules to ease trade. His remarks add to warnings by UK businesses against a deeper separation from the EU post-Brexit, as the government pursues plans to “review or revoke” up to 4,000 pieces of law derived from the bloc. “The UK economy is one of the weakest places for manufacturers now. But we have more than made up for that with strong investments elsewhere,” he added. DS Smith recently opened factories in Poland and Italy, and is expanding in Germany as it continues to invest outside the UK. “What really is the benefit [of diverging from EU rules? It adds cost and complexity . . . It’s more cost and inflation for the UK,” Roberts said. The decision to wind down DS Smith’s factory in Aylesford, which produces cardboard displays for retailers, was “very regrettable”, he said, but the company had to “respond to the demand that’s there”. The closure is expected to lead to about 100 job losses. “There are now quite severe restrictions on the movement of products between the UK and its biggest market,” he said, adding the company’s exports to the bloc have roughly halved since Brexit.
https://www.ft.com/content/349072ab...d178a#myft:notification:instant-email:content
DS Smith to close Kent factory as it pushes ahead in Europe Chief executive calls on UK government to align regulations with EU rules to ease trade
CEO Miles Roberts said the decision to wind down its factory in Aylesford was ‘very regrettable’ © REUTERS DS Smith to close Kent factory as it pushes ahead in Europe on twitter (opens in a new window) DS Smith to close Kent factory as it pushes ahead in Europe
DS Smith to close Kent factory as it pushes ahead in Europe
Britain’s largest packaging company will close its factory in Kent and continue to expand production in Europe, warning that a planned bonfire of EU laws risked plunging the UK into a deeper economic crisis. Miles Roberts, chief executive of DS Smith, said the group’s international business could not continue to subsidise operations in its home country, adding it would be “extremely helpful” for manufacturers if the government aligned regulations “wherever possible” with EU rules to ease trade. His remarks add to warnings by UK businesses against a deeper separation from the EU post-Brexit, as the government pursues plans to “review or revoke” up to 4,000 pieces of law derived from the bloc. “The UK economy is one of the weakest places for manufacturers now. But we have more than made up for that with strong investments elsewhere,” he added. DS Smith recently opened factories in Poland and Italy, and is expanding in Germany as it continues to invest outside the UK. “What really is the benefit [of diverging from EU rules? It adds cost and complexity . . . It’s more cost and inflation for the UK,” Roberts said. The decision to wind down DS Smith’s factory in Aylesford, which produces cardboard displays for retailers, was “very regrettable”, he said, but the company had to “respond to the demand that’s there”. The closure is expected to lead to about 100 job losses. “There are now quite severe restrictions on the movement of products between the UK and its biggest market,” he said, adding the company’s exports to the bloc have roughly halved since Brexit.