Debate around Made in Europe is intensifying in Brussels as attention shifts from political signalling to the detail of the forthcoming Industrial Accelerator Act (IAA)
Prior to the publication of the IAA proposal, the CBI has engaging across UK Government and Brussels, including discussions with BusinessEurope, European sister federations, the Cabinet of Executive Vice-President Šefčovič, the UK Mission to the EU, and senior Cabinet Office and DBT officials. At this stage, BusinessEurope remains the only cross-sectoral body to firmly acknowledge the role that third countries, like the UK, play in driving growth and competitiveness across Europe.
BusinessEurope continues to maintain that any European Preference must be case-by-case, avoid protectionism and extend beyond the EU to neighbouring countries with comprehensive economic agreements – a position which has helped shift the direction of travel in Brussels.
Constructive elements under discussion include permitting reform and demand creation for low-carbon products; however, risks remain, not least significant concerns regarding the IAA’s impact on the automotive sector, and how the legislation will interact with the EU’s newly adopted FDI Screening Regulation.
What the CBI is calling for and how you can get involved
We need the UK Government to undertake a clear impact assessment which details how UK sectors and supply chains might be affected, as well as continued bilateral engagement with the Commission and key capitals as the legislative process unfolds.
The CBI will continue working through BusinessEurope and also directly with EU and Member State officials. We stand ready to convene affected members and facilitate senior-level engagement to ensure UK competitiveness interests are protected.
Please do get in touch to share your reactions and concerns by contacting Erin Henwood.