Zug,23.06.2016

Would the United Kingdom leaving the European Union have much effect here?

According to the most recent statistics, 2,253 citizens of the United Kingdom live in the canton of Zug, making up the third largest group of foreigners here. Those aged over eighteen and who have not been resident outside the United Kingdom for a period of longer than 15 years will have also had the opportunity to vote on whether they want their homeland to remain part of the European Union or not.
 
Whatever the nation decides today, will it affect the canton of Zug in any way? A journalist of the Neue Zuger Zeitung asked Gianni Bomio, the general secretary of the Cantonal Department of Economic Development, to find out.
 
“The United Kingdom is not really an area of focus for us here in the Greater Zurich Area and the canton of Zug; there are no specific location marketing or other economic promotion activities aimed at the United Kingdom or at any British companies in the Zurich/Zug area,” he said, as he confirmed that there were some 30 companies in Zug which could be regarded as British, meaning that their main area of activity was the United Kingdom or that they were British-owned.
 
When Bomio was asked whether a vote resulting in the United Kingdom leaving the European Union could have an effect on firms based in Zug which are active in the British Isles, he said that a number of large firms here which operated worldwide also had sales organisations there, though whether the country leaving the European Union might affect them he could not say and recommended the journalist enquire with the specific firms directly.
 
As to whether there might be a general effect on Zug if the United Kingdom were to leave the EU, again Bomio was not able to say whether economic relations with the country would be affected. “It will be up to the individual firms to decide what changes might be necessary, and this depends on the ensuing business environment. As to how this might look if Britain leaves the European Union is not yet known,” he said.