LONDON: Britain's economy has struggled beneath the weight of Brexit uncertainty for nearly three years, but many business leaders would probably be relieved just to have more of the same for the next few months.
"Businesses will accept a short extension because it’s a better alternative to no deal," Seamus Nevin, chief economist at Make UK, an engineering trade group, said. Gerard Lyons, a pro-Brexit economist, said weak business investment was a long-standing British problem, not just a Brexit one, and he pointed to strong jobs growth and tax revenues as a sign of underlying resilience in the economy.
The Bank of England said on Thursday that about 80 percent of almost 300 companies it surveyed felt they were as ready as they could be for a no-deal, no-transition Brexit, up from 50 percent in January. Most economists say the higher the barriers for British firms to do business in the EU, the bigger the drag will be on economic growth stretching out into the decades ahead.
Source: News Formal (newsformal.com)
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