2/13, 5:58 AM (Source: TeleTrader)
more TeleTrader news

UK firms 'hugely concerned' over no-deal Brexit

The British Chambers of Commerce (BCC) warned the United Kingdom government that the "lack of clear, precise answers" regarding the Brexit process is "causing real damage to many businesses, and to the wider economy." It stated many key issues are still unclear in the no-deal scenario less than two months away from the date the UK is supposed to leave the European Union.

"Business has been clear that it does not want a messy and disorderly exit from the EU on March 29. While firms understand that negotiations are still ongoing, they are hugely concerned that the UK is not prepared for all eventualities - and that the sluggish and patchy nature of government planning for 'no deal' would become all too apparent in the economy if it is allowed to happen by default," the BCC said in a statement.

The organization's director general, Adam Marshall, added that "even those companies trying their hardest to get ready are still in the dark on important matters from contracts through to customs. Many others, who took the decision to wait for the political process to conclude before acting, would face sudden and costly adjustments if a deal is not reached."

Breaking the News / DJ