Brexit clarity needed to avoid 'tipping point' for industry as companies abandon investment in UK
"“If they don’t have that assurance there will come a tipping point, sometime in 2018, when boards in the UK and elsewhere will need to make decisions based on the state of the negotiations at that point.
“They cannot wait until the end of the process for confirmation of a deal on our departure or future trading relationship.”
Without this certainty, he raised the prospect of companies shunning the UK for investment, hitting the country’s economic health, pointing out that many businesses across Europe are interconnected, regardless of which country they are physically located in.
“Businesses need to know much sooner what transitional arrangements will be in place, and for how long. A failure to do so will damage our collective economic interests, a situation which would be as tragic as it would harmful.”
The chickens are fast coming home to roost.
"“If they don’t have that assurance there will come a tipping point, sometime in 2018, when boards in the UK and elsewhere will need to make decisions based on the state of the negotiations at that point.
“They cannot wait until the end of the process for confirmation of a deal on our departure or future trading relationship.”
Without this certainty, he raised the prospect of companies shunning the UK for investment, hitting the country’s economic health, pointing out that many businesses across Europe are interconnected, regardless of which country they are physically located in.
“Businesses need to know much sooner what transitional arrangements will be in place, and for how long. A failure to do so will damage our collective economic interests, a situation which would be as tragic as it would harmful.”
The chickens are fast coming home to roost.
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