It's undeniable that there's been a big shift in businesses coming out to talk about Brexit, to warn against the dangers of no deal or a hard Brexit. As someone who's spoken to about 50 firms about this already this week, I'm often asked why.
Here are some answers 1/4
Here are some answers 1/4
Why businesses are speaking on Brexit now:
A. Contingency plans. Big firms have made their 'no regrets' decisions are now having to press go on expensive regretful decisions, spending money on things like warehouses and customs staff
2/4
A. Contingency plans. Big firms have made their 'no regrets' decisions are now having to press go on expensive regretful decisions, spending money on things like warehouses and customs staff
2/4
B. Investment. Brexit is no longer just pausing pre-ref investment decisions but putting off new ones. The baseline scenario for calculating profitability is no deal
C. Transition. Both sides failed to guarantee sensible transition in case of no deal so no trust it happens
3/4
C. Transition. Both sides failed to guarantee sensible transition in case of no deal so no trust it happens
3/4
Why firms didn't speak before:
The concerns of investors, employers, suppliers, customers. It's a big decision to be political, it's not a world CEOs are comfortable with. There are 100s of firms not speaking out for these reasons. Gov must use tomorrow to show they'll listen
4/4
The concerns of investors, employers, suppliers, customers. It's a big decision to be political, it's not a world CEOs are comfortable with. There are 100s of firms not speaking out for these reasons. Gov must use tomorrow to show they'll listen
4/4
