Generation Brexit

Brexit is bad for business

Almost 60% of UK businesses say leaving the EU hasn't changed their investment plans. On the other hand, among the 357 businesses that were asked by the Confederation of British Industry (CBI), 40% said Brexit had already changed things for the worse.

The recent meeting between Brexit advisors, ministers and businesses is a sign that this finally is taken seriously, and we can only hope close cooperation will continue during the negotiations.

However, there are great differences between companies; due to more uncertainty Adecco Group Staying have stopped hiring and Lloyds Banking Group recently cut their staff by 3000, and while Associated British Foods and British Foods profit from a weaker pound, staying inside the single market and a customs Union in the near future would be the safest option for UK industries. 

Do you think it'll be harder to find a job after Brexit?

edited on Jul 21, 2017 by Tollak Bowitz

Gaia Jul 20, 2017

To think that one of the arguments of Leavers was that Brexit was going to be "good for UK businesses"...

Reply 1

Valeria Vigilante Jul 21, 2017

The job market after Brexit is likely to be affected in two ways: 1) by the decrease of EU workers due to immigration controls, and 2) by the fate of the Pound and leaving the Single Market (if the UK does so). The government should have a plan to address these issues promptly and deeply. Business needs certainty and stability, the UK should act in this sense.

Reply 3

Tollak Bowitz Jul 21, 2017

Agreed. But following the recent discussion this week, a transition/implementation phase seems increasingly likely! And it could well be that it will take the shape of an "off-the-shelf" model, like joining the EEA, which would give access to the single market etc. This would also mean accepting free movement of people in the foreseeable future, but would also grant certainty, as you point out.

Drawbacks with such a development?

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Reply 2

Valeria Vigilante Jul 21, 2017

The only problem with that is the reaction of the British public, particularly those who voted Brexit and expect to tighter control on immigration.

Reply 2

Tollak Bowitz Jul 21, 2017

Ture. It's a tough sell, and could be seen as another u-turn.. Increased polarisation as the result? Could the opposition profit from this somehow, by creating their own narrative of ..something?

Reply 2

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