UK businesses frustrated by Brexit delay - British Chamber of Commerce
"Many business leaders will be intensely frustrated by yet another delay in the long drawn-out Brexit process, which impacts real-world business conditions, not least currency markets", Dr. Adam Marshall, Director General of the British Chambers of Commerce said in response to UK PM May's decision to delay the Brexit vote.
Key quotes (Source: BCC)
Firms are looking on with utter dismay at the ongoing saga in Westminster, and express concern that politicians are seemingly acting in their own interest, with little regard for the millions of people whose livelihoods depend on the success of UK business and trade.
Businesses are clear that time is rapidly running out and many are already enacting contingency plans in the absence of clarity from Westminster. Even basic business planning for next year has become difficult, if not impossible, for many firms and their investors.
Our research shows that in a ‘no deal’ scenario, many businesses would cut investment and recruitment, or move some of their operations elsewhere.
Author
Omkar Godbole
FXStreet Contributor
Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.
