Brexit’s Impact on Architecture
The Brexit decision has undoubtedly made an impact on the UK’s economy. The currency has plunged. However, some markets such has exports have seen greater demand but conversely the import business has suffered. There two sides of the coin cause benefits and losses to a variety of different industries. Effects to certain industries are easy to predict whereas others require the consideration of the multitude of different variables. SO how exactly will the Architecture Industry be affected?
Theresa May has announced that preventing an influx of foreign laborers is of higher importance than remaining in the single market this is likely because the majority of the leave campaign was focused on immigration. The prime minister wants to be seen as listening to the people and doesn’t want to do what many politicians believe she should be doing. Maybe she wants to ensure she is re-elected before she makes any drastic changes because of course, a good initial impression will significantly aid her.
Here is a video by Al Jazeera on how Brexit will affect the UK’s economy as a whole:
A recent RIBA survey is showing bad news for the architecture industry. RIBA recently released their survey on the expectations of work from firms included in their Future Trends Survey. The results show that for the first time since briefly in 2012 that companies are expecting workloads to decrease and not increase. Previous expectations for the majority of the last four years show that companies were expecting 20-30% increases in demand rather than the approximate decrease in demand by 8% that is being forecasted.
RIBA President, Jane Duncan, recently called for clarity on how current international architects working in the UK will be affected. There still hasn’t been an official statement on what will happen to foreigners who are currently working in Britain and the uncertainty surrounding their job security is volatile to the market. She also announced that RIBA expects the industry to be able to cope with Brexit and that even if foreign nationals are forced to leave the UK that there will be enough UK based architects to pick up the slack and keep Britain designing. Time will tell on the long term affect of the Britains decision to leave the European Union but one thing is for certain: the short term affect has been devastating.