British Companies Called on Government to Clarify Brexit Details

Forex News

Companies in the UK want more clarity from the government about how the trade and customs arrangements of Great Britain with the European Union will look after it leaves the block in 2019. Many companies fear that an exit from the EU will jeopardize the UK economy at 2.7 trillion dollars and undermine the position of London as the only financial center that will compete with New York. But all the same, Britain can not yet say exactly what the future relations with the European Union will be after Brexit, business minister Greg Clark said.

The British Chambers of Commerce (BCC) called on the government to clarify what it expects from Brexit, since clear goals for negotiating in the UK are crucial for both business and public confidence. The British Chambers of Commerce also said that the transition period will discourage firms, as they make investments and make hiring decisions.