Mon. Apr 6th, 2020

80% of British companies believe that Brexit has undermined investment

El 80% de las empresas británicas creen que el Brexit ha socavado la inversión

80% of the companies from the United Kingdom they assure that the uncertainty around Brexit has undermined his plans for investment, according to a poll released today by the Confederation of British Industry (CBI). This 80%, of a total of 236 large companies and SMEs consulted between September 19 and October 8, contrasts with the percentage of 36% recorded in another survey conducted at the same time in 2017.

39% of companies say they will increase their contingency plans, which may include cut jobs, changes of venue or storage of products, if in November there is "no more clarity" in the negotiations between the British Government and the European Union (EU) on the exit of this country from the bloc.

They demand clarification of what the future relationship with the EU will be like

24% said that they will apply those plans if it reaches December without a clear plan on the future relationship United Kingdom-EU, and the majority admits that it includes in its preparations the possibility that the negotiations end without agreement.

In another section of the study, 30% of the companies consulted said that they have examined "the business expansion opportunities that may arise with Brexit and have not found any".

This is how the anti-Brexit protesters left the Cabinet Office

This is how the anti-Brexit protesters left the Cabinet Office
(Simon Dawson / Reuters)

20% have identified opportunities and 21% want to look for them but they feel that they can not do it because "we do not know what form" the British EU march will take. Twenty-eight percent have not yet begun the task of investigating future growth opportunities, the survey said.

The general director of the IWC, Carolyn Fairbairn, declared that "the situation is urgent", because "the speed of the negotiations" between London and Brussels "is being overcome by the reality faced by companies on the ground".

"Unless an exit agreement is closed in December, companies will press the button on their contingency plans. Jobs will be lost and supply chains will be modified, "he warned. Fairbairn stressed that the effect on the British economy of activating these plans "will be significant", even more so "as long as the possibility of negotiations ending without agreement remains on the table".

Source link