As the pound's value tumbles and a general election looms...
today, it all appears disturbing, but the British public have fought back against the government’s plans to drag us out of the European Union with no deal, protesting across the country this past weekend.have issued a stark warning to the government highlighting just how detrimental dropping out of the EU would be for the industry.
Statistics provided by the BFC show that the fashion industry employs more than 890,000 people and is worth £32 billion to the UK GDP. Dropping out of the EU without a trade deal would mean we would switch to trading under World Trade Organisation rules, a move that'd cost the industry up to £900 million. Small and medium sized fashion enterprises would suffer the most.
This means that, while the big high street chains and luxury labels would be able to take the knock, it would be tragic for small British labels who rely on international trade and are constantly working with suppliers from outside of the UK. Heck, some of Britain’s bestThere are a bunch of complex new rules that would essentially make running a fashion-based SME super difficult.
But the biggest issue lies beyond money, and that’s talent. Right now, London is a hotbed for emerging designers that come to the capital -- and other major cities -- from across the globe to study fashion. They segue into jobs at big design houses, or start their own labels using the UK as a hub.
The whole thing is an absolute shit show that is set to stall the British fashion industry. So what can we do to save it? Well, let’s start by stopping Boris and co proroguing Parliament to make the idea of 'no deal' a little less likely.
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