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Much ado about Brexit

In order to ensure that the British superyacht industry is not derailed by the Brexit process, what should be the areas of focus?

In a White Paper published by the British government, Theresa May, the prime minister, set out 12 objectives for the UK’s exit from, and new partnership with, the European Union.

“The superyacht industry is a success story for the UK’s maritime sector,” starts David Dingle, chairman of Maritime UK. “There is a strong boatbuilding heritage in the UK, and we are rightly proud of the successful British boat brands that have built world-wide reputations for themselves. This was showcased when British Marine released the latest industry figures that highlighted a tangible step towards pre-recession levels of commerce with revenues in excess of £30 billion.”

Much of the British superyacht industry’s success, not least that of the MCA and Red Ensign Group, is owed to the current freedom of movement and trade granted as a result of being a participating member of the European Union.

In 2014, the British government commissioned the Maritime Growth Study in order to ascertain which areas of the maritime industry required immediate attention. These included a joined-up industry, joined-up government, enabling a customer-facing ship registry, a commitment to maritime skills and careers development, and the active promotion of maritime both at home and abroad.

With the United Kingdom’s superyacht market being among the most diverse on the Earth, boasting renowned companies and individuals in myriad sectors ranging from design to insurance, in issue 177 of The Superyacht Report we explore what needs to be done to ensure the British superyacht industry is not derailed by the Brexit process

This is part of a ‘Much ado about Brexit’ appearing in issue 177 of The Superyacht Report. 

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