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GIBRALTAR’S NEW DAWN
The long awaited day of Gibraltar leaving the European Union has now come and gone. Some thought, and many hoped, that it would never happen. Granted, it look far longer than originally planned and this in turn prolonged the uncertainty and anguish for people and businesses alike, particularly those here in Gibraltar and for many of those in the UK as well.
But the delay and uncertainty has also been widespread for those who depend on Gibraltar or the UK for their living, even if they don’t actually live there. Gibraltar and the UK have been some of the the greatest job creators in Europe since the global financial crisis. Gibraltar has created more than 9,000 jobs in the last ten years and many of these jobs have been filled by Spaniards and other EU nationals who live in Spain and cross the border each day to get to work. And it is still worth emphasising the point that the wages of these workers are largely spent in the neighbouring Campo region. And that does not include the value of Gibraltar residents’ spending in Spain either. Similarly, the businesses in the Campo and from right across Andalucia continue to sell vast quantities of goods and services into Gibraltar each year. In 2013 this was estimated to be worth around £384m. Today it could be nearer £800m. It has worked well for businesses and people on both sides of the frontier. Long may it continue.
BUT WHAT OF THE FUTURE?
Well, the uncertainty about the consequences of Gibraltar being outside the EU
remains. These will probably only start to come into sharper focus towards the end of
the year and thereafter.
In the negotiations between the UK and the European Commission, Gibraltar is not
asking for special treatment. We just want to be treated equally as the UK and afforded
the same opportunities as the UK.
Gibraltar is often described by UK politicians as being part of the UK family. Attempts
by some parties to peel Gibraltar off and separate it from any lasting agreements made
with the UK are likely to damage Gibraltar’s economic prospects. This in turn will have
an impact on the Campo and its businesses and citizens. Better to work for the interests
of the people rather than embark on some futile tub-thumping. Economic growth and
the job creation that comes with it are really the only way to develop and sustain a
region or a country.
Opportunities come and go and Gibraltar’s dynamic business community is quite used
to dealing with change. It has been one of the few constants of the last 300 years or so.
In spite of the uncertainty of the last three and half years, there are good grounds for
Gibraltar to be optimistic about the future: inward investment is up year on year, new
job openings remain buoyant and a number of new businesses have been setting up.
These are all tangible signs of confidence in Gibraltar’s prospects. Gibraltar has been
playing its part in securing its economic future since the referendum. This will benefit
the local economy as well as the Campo.
In the negotiations with the UK due to begin shortly, the EU should not overlook
where the new jobs and growth will be created in this southern tip of Europe.