‘Brexit No Deal’ – The worst of all worlds | Devon Chamber of Commerce

Devon Chamber of Commerce and Industry

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‘Brexit No Deal’ – The worst of all worlds | 12.10.17

The nightmare Brexit journey rumble on with no clear indication of what the final destination will be. Increasingly businesses feel that they are flying into a murky fog bank in which it is impossible to plan for the future. It is not surprising that business investment is down. Who would spend money not knowing whether that investment will fund successful business activities?

Currently there is no clarity about trade. All businesses who import or export goods and services have no idea whether poor Brexit current conditions of trade will continue. Plymouth and Teignmouth are both importing and exporting parts. To date there is no clarity about what additional export and import checks need to be undertaken and what additional checking facilities need to be provided.

Similarly the many businesses that have used skilled labour from Europe have idea whether they will be able to attract and retain these key workers in the future.

All of this generating a climate of unease which is not healthy when peoples jobs and income rely on a strong and stable economy.

No deal is the worst of all worlds. Crashing out of the Europe community in chaotic fashion will do real damage to business, the economy and the future wealth of everyone. At a time where more people are demanding pay increases there is a desperate need for business to be given certainties so that it can generate the wealth to pay for future investment.

 

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