The trade association for the aerospace, defence, security and space sectors welcome Jeremy Corbyn's backing for the UK to partcipate in a customs union with the European Union after Brexit.
ADS Chief Executive Paul Everitt said:
"A customs union with the EU is a pracrical solution that would put businesses in the best possible position to compete after brexit.
"We welcome the position set out by the Leader of the Opposition today that Labour will support a customs union with the EU and stay in important EU agencies.
"Any new customs processes introduced after the UK leaves the EU could cost our sectors up to £1.5bn a yar. New burderns like these would harm the UK's capacity to compete in international markets and weaken the ability of industry to generate growth and jobs.
"We hope the Government lists to what industry voices like ADS and the CBI have said and seeks to agree a deal with the EU that builds on the light touch customs arrangements we already have in place for trade between the UK and Europe."
A survey of ADS members in July and August found that 44 per cent said that they had IT systems in place to manage new customs procedures after Brexit.
In the Autumn, ADS published Building Brexit: Priorities for a future UK-EU Customs Arrangement. To see the full report, visit: https://www.adsgroup.org.uk/reports/building-brexit-priorities-uk-eu-trading-relationship/