Brexit: expect uncertainty, but let’s not talk ourselves into recession

Chris Primett, managing director of Aarsleff Ground Engineering, says we need to accept the referendum result and continue as normal.

Chris Primett

As the managing director of a large piling company with sister companies throughout Europe and a parent company based in Denmark, I have been asked many times over the past few weeks what my thoughts are regarding the Brexit result.

Well, to be honest, like so many of the construction magazines and wider media, which seem polarised between blind optimism and doom and gloom, the truth is, I simply don’t know. Of course, that doesn’t mean I don’t have an opinion – I do and suspect like all of these types of issues there will be a mix of highs and lows.

That said, the future will be a little more uncertain, but this uncertainty is actually the one certainty we can rely on. As a sector we need to accept that the future will be uncertain, plan for it and move on. Dwelling on what might or might not happen will have very little impact on what will actually happen.

The construction sector is in pretty good shape at the moment, considering what it has been through since 2008 and this should help us ride whatever the future holds. The risk, as usual, comes from us all talking down the sector and the spread of worry and concern that does little but make everyone else worry and be concerned.

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I am not for one moment suggesting that there won’t be some ripples – I know of a couple of large foundation contractors that have had projects put on hold, have had start dates moved back and some projects cancelled.

This is not good news and I hope it is just early jitters because in many ways the fact remains – as we stand today – nothing has changed politically and negotiating our exit will take many years and be a slow and considered process. There really is no reason for wild speculation without basis. 

The UK has a fundamentally strong economy and negotiating “Brexit” will take many years and I cannot really see Europe blocking the evolution of a non-EU working and trading relationship with the UK, unless it really does want to cut off its nose to spite its face.

The key for us all is to plan for uncertainty, accept the fact that we are leaving the EU at some point, but get on and continue as normal.

The wider Aarsleff group of companies wants to maintain existing relationships with the UK and I know the European Federation of Foundations Contractors (EFFC) wants the same too, recognising that is everyone’s interest to continue the collective work and progress towards harmonious methodologies of working and standards.

The government has re-stated its commitment to infrastructure projects such as HS2 and Crossrail 2 and the need for more housing hasn’t disappeared either. So what can we do? Well, let’s plan for growth, plan for stability and accept that uncertainty may well be the new norm.