Three of Stroud’s biggest employers line up behind ‘Remain’ camp on EU referendum

World-leading precision engineering company Renishaw, which employs more than 2200 staff in the district, told its employees that ‘Brexit’ would result in higher costs and greater regulation for the business.

The firm, which has one site in Stonehouse and Woodchester and three near Wotton, said it had carried out its own research and analysis after many of its employees had asked the company about its stance regarding a possible ‘Out’ vote.

In a statement last month, it said that while voting in the referendum was a personal decision, it had concluded “for Renishaw, a British exit from the EU would mean higher costs for our company.”

“We would also be subject to additional regulation in our business dealings, both with the EU and the rest of the world.”

Meanwhile Dale Vince, founder of Ecotricity, which employs 660 people in Stroud and Nailsworth, said for the company the idea of breaking away from Europe was “madness”.

The CEO of the green energy firm said the whole question of ‘in or out’ was “ridiculous” and that the company benefited hugely from EU environment legislation and targets on renewables.

“We are definitely better off being a part of the EU,” he said.

“Apart from the usual arguments about trade, which I think are absolutely right, we also get better environmental and employment legislation, for example - truly ambitious targets for emissions and renewable energy take up.

“The idea of breaking away from Europe is madness.”

Last month Airbus, which has a base in Filton that employs over 4,500 staff - many of whom are from the Stroud district - said that a vote to leave the EU could choke off future investment in the UK.

The Aerospace company, which designs and manufactures high-technology aircraft wings, said it was committed to its British operations regardless of the referendum result.

But it said a vote to leave could make it rethink future decisions about where to invest the group’s money.

In a letter signed by six senior Airbus executives, the company said: “We simply don’t know what ‘out’ looks like.”

They said they “firmly believe that it makes good economic sense to stay inside the EU”.

“Should the British electorate have a different view then clearly we wouldn’t cease our activities in the UK, which are highly important and very prominent,” the letter said.

“However, our business model is entirely based on our ability to move products, people and ideas around Europe without any restriction and we do not believe leaving will increase the competitiveness of our British-based operations.

“We all need to keep in the back of our minds that future investments depend very much on the economic environment in which the company operates.”

Conservative MP Neil Carmichael said trade with the EU was key to business in the region.

“The EU is the South West’s biggest trading partner,” he said.

“Last year, over 64 per cent of goods exported from our region were sold in the EU – worth £9.7billion.

“It’s no surprise then that our biggest employers, including Renishaw, Ecotricity and Airbus support my view that we should vote to remain in the EU.”

However Stuart Love, chairman of Stroud UKIP, dismissed the fears surrounding Brexit.

He argued British business could stand tall outside the EU.

“UKIP’s stance has always been that to leave the EU would open up markets across the world without having to go begging bowl-in-hand and obtain the permission of the EU,” he said.

“No business takes years to agree and close trade deals, it just does not make economic sense.

“The Remain camp state ‘higher costs to business’ but fail to clarify exactly what costs. Let’s have less fear and more figures.

“Businesses across the board bemoan the cost in time and money to constantly implement the barrage of EU regulations.

“Brexit will reduce this, by allowing us to choose the regulations beneficial for the UK.

“I fail to understand that these companies appear not to be planning for a Brexit.

“To say products, people and ideas will somehow not be able to move around Europe as if there will be a 'Star Trek' type force field around the UK, is frankly ludicrous.

“After Brexit is will be business as usual for the multinationals.”