Market forces

Great Britain pondered cause and effect of the Single European Market on UK business in 1992.

- Steev Hayes

Ironically, just as the country ponders life outside of the EU, just over 25 years ago we were considering what lay ahead as we headed towards 1992 and the opening of the Single European Market.

Experts from governmental departments were bullish about the prospects for business the new single market would offer and were anticipating great changes with the way trading was carried out between the European countries within the single market.

There were a lot of conflicting assumptions about what would happen. But it was reckoned an increase in trade would bring extra business for the whole of the haulage industry, although hauliers would be competing for that business with other transport companies from across the whole of the European Union – or European Community (EC) as it was portrayed then.

However, the road transport industry was seen as key to the success (or otherwise) of the whole ‘1992’ concept, as trade was dependent on the ability of the movement of goods by truck across the whole of the European Community.

As this was still a totally unknown quantity, quite a high number of UK operators were under the impression the changes would have little or no effect on their businesses. They didn’t consider – or perhaps didn’t understand – what effect foreign hauliers were likely to have on their work and if they were likely to encroach on their individual customer contracts.

Industry experts and those in the media with an eye on business were aware of the problems of a downturn in business, high interest rates and cash flow problems at the time, but they also knew those in the industry had themselves to be aware that the industry (in fact, the whole of the country) would be in a state of change for some years to come.