Political chaos is rarely good for business, and the febrile atmosphere prevailing in Parliament as the UK prepares to (maybe) exit the EU on October 31 is no exception. With massive uncertainty hanging over the country about Brexit, including what form it will take and whether it will even happen, British business confidence is plunging to new lows, reports Bloomberg’s Jill Ward, citing the latest figures from Lloyds Business Barometer, which surveyed 1,200 businesses about a range of issues.
- The proportion of British business executives who think that Brexit will have a negative economic impacts increased from 39% in the last survey a month ago to 43% today, reflecting mounting apprehension that the UK will crash out of the EU without a long term trade deal.
- Economists are now assuming no-deal Brexit as their default option, forecasting a recession as a result of the ensuing disruptions to trade and the British economy generally.
- In regional terms, the companies taking the gloomiest view of Brexit were mostly located inScotland, Northern Ireland, southwest England and London, according to Lloyds.