Monday, 17 July 2017

UK Businesses Say ‘Brexit’ Affected Investment Decisions: CBI

In World Economy News 17/07/2017

British firms said ‘Brexit’ has affected their investment decisions, according to a survey from the Confederation of British Industry.
Over 40 percent of respondents said ‘Brexit’ influenced their decision and 98 percent of them said that the impact has been negative.
Companies said that general uncertainty over the UK’s future relationship with the EU has been the negative factor, while the weakness of sterling against the dollar was the only positive contributor.
Almost 60 percent of firms that responded to the survey said that ‘Brexit’ had not affected their investment decisions.
“Across the UK, there are numerous examples of businesses and sectors thriving and providing jobs and growth in local communities,” Rain Newton-Smith, CBI chief economist, said.
“It is reassuring that the majority of businesses that responded to our survey do not feel that Brexit has changed these vital spending plans,” the economist added.

Source: RTT