Partner Article

UK businesses back Barnier to come out on top

The Government has been told in no uncertain terms that it is failing to put its best foot forward as it guides the country towards Brexit, according to a survey of business leaders.

A survey of 561 UK-based businesses, conducted by HLB International, a global network of businesses, reveals that 71 percent think the Government is not following business best practice by failing to provide an official, post-Brexit economic forecast.

Giving their verdict on the way Brexit negotiations have been handled to date, two-thirds (62 percent) of UK businesses think the negotiations have been handled badly. Rating the lead negotiators side by side, UK businesses think Michel Barnier is more likely to come out on top in the negotiations than David Davis at a rate of almost 3-1.

As a member of HLB International, Julie Adams at accountancy firm, Menzies LLP, believes the findings flag some clear areas for improvement. She said:

“Businesses are relying on the UK Government to deliver the best possible outcome for Britain, but this survey reveals that they are far from convinced this will happen. While there have been leaked reports about Brexit’s impact on the economy, no official information has been provided.

“The Government should make a commitment now to give UK businesses clear information about the most likely scenarios for the economy during the transition period and afterwards, so they can plan ahead.”

While the majority of UK businesses believe they will be worse off after Brexit, a third (34 percent) don’t know and one in five think they will be better off.

“With wage growth and other key economic data showing signs of improvement, some optimism is returning and businesses in some sectors, such as property development and business services are experiencing strong growth,” added Julie Adams.

This was posted in Bdaily's Members' News section by Menzies .