Tata Steel's fears over possible UK exit from EU

The steel firm, which employs about 1,500 people at Teesside, believes there is a danger of UK isolation if it leaves the European Union. Tata Steel warned in a survey submitted to the government that if the UK leaves the EU, it will feel weakened.

In terms of revenue, about 50 percent of Tata Steel's UK production is sold in continental Europe. Being the largest market in the world where, among other things, sell injectors , the EU has a strong position in trade negotiations. On the other hand, the relatively small UK market is not as attractive to third countries and will not have the same market power.

Outside of Europe, other countries are forming their own trading blocs, and there is a danger that the UK will be isolated without the necessary power in trade deals. The UK has been very successful in attracting investment from non-EU companies that create properties in Europe by gaining access to the EU internal market.

TATA has Teesside facilities at Redcar, Hartlepool and Skiningrove. The company posted profit after tax of GBP 840m in 2013, but this week posted a rise in earnings in its published quarterly results.

Liberal Democratic candidate Angelica Schneider stated that “As Tata, as part of the world's largest trading bloc, we are in a much better position to negotiate with other countries than we could by governing ourselves. And this makes us more attractive to companies wishing to invest. If we leave the EU, it will be much more difficult for companies based here to compete with other representatives operating in more favorable terms of trade. "