The UK has voted by 52% to 48% to leave the European Union after 43 years of membership.
The pound fell to its lowest level against the dollar since 1985 as markets reacted to the result.
Ranjit Baxi, BIR president, said: “The decision of the people of the United Kingdom to leave the EU will undoubtedly have a deep impact on trade in the European Union and internationally.
“We need to continue working together to promote free and fair trade globally while strengthening our diversity and reducing legislative and bureaucratic burdens on businesses.”
Laws
Matthew Spencer, director of Green Alliance, is calling on the UK government to now “strengthen” environmental laws and institutions.
He said: “The nation is divided, and our environment is one of the few things left which we have in common. Britain will now have to create new national laws and stronger public institutions to fill the gaping holes that will be left as we jettison strong EU environmental agreements.
“The public did not vote for a race to the bottom, they will expect standards of environmental protection to be at least as strong as in the UK as they are in France and Germany. We now need a plan from government to achieve that.”
Paper
One senior recovered/waste paper sector expert told letsrecycle.com today that for paper recyclers “the result is unlikely to have any early impact as life goes on as normal and no significant ripples expected in the short term.”
And, he said that some in the marketplace may try to talk the market in one direction or another to try to get some volatility going but the reality is that exchange rate impacts are still unclear and likely to be short term.”
He added: “I don’t expect to see any change in demand patterns short to medium term. Longer term is certainly not clear. But, we can expect more speculation about how the UK now aligns itself with European targets and legislation going forward.”
Resource Association
In the wake of the referendum vote, Resource Association chief executive Ray Georgeson has called on the UK government to commit to a “resource efficient future.”
He said: “We must continue to advocate the power and value of the circular economy and ensure that our concerns about policy uncertainty are addressed. We will be looking for clear signals and reassurances from the government that they recognise the potential and value of our industries and that they commit to a more resource efficient future, regardless of our future status in Europe.”
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