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A majority of British firms said Brexit had a negative effect on investment decision, according to a new research on business preparations by the Confederation of British Industry.
Eight out of ten firms said Brexit hit investment as speed of talks outpaced by reality firms face on ground. The majority of firms said they will implement damaging contingency plans in the absence of greater certainty on Brexit by December.
"The situation is now urgent," Carolyn Fairbairn, CBI Director-General, said. "Unless a Withdrawal Agreement is locked down by December, firms will press the button on their contingency plans. Jobs will be lost and supply chains moved."
The survey showed that many firms are now planning for a 'no deal' scenario, with severe implications for people's livelihoods on both sides of the Channel.
