sun_tzu
The Art of Bore
Initially at least, i was alluding to a trade agreement with European countries.
I do struggle however, to understand why companies should have any interest in whether the UK taxes go toward a fleet of drones for the EU or its diplomatic service.
We dont care where the taxes go... be that UK, EU or Dutch taxes etc
Its more if we price something at £200,000,000 and then the £ slides 10% against the Euro its quite a hit to take and as our projects typically last 3-5 years then we have to think what's likely to happen over that period - our current forecast is that if we have a referendum we will probably loose around 10% just based on market uncertainty and then another 5%-10% if we opt to come out in 2017
Admittedly we have benefited from the weak Euro in the UK arm of the business over the last few years but in the medium to long term we just see it as a risk to base too much in £.
We do have a keen eye on the USA trade agreement though as in the past there have been some barriers to us picking up work there on strategic assets