Two-thirds of EU manufacturing firms want to move at least some of their production out of the bloc in the next few years, a new survey of senior executives by the Economist intelligence unit has revealed.
But the reason is not primarily the extra carbon costs expected from a revised EU emission trading scheme (ETS), according to the survey, which was presented at a conference in Brussels on Wednesday.
Increased proximity to markets, better access to labour and tax advantages are driving re-locations. Only nine per cent of respondents named regulatory changes as a driver. But nearly 60 per cent of energy-intensive firms said they expected the ETS to negatively impact competitiveness in future.
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