The latest Brexit delay means more uncertainty, frozen investment and lost customers for U.K. manufacturers.
That’s the verdict of Stephen Phipson, who represents 5,000 companies as chief executive officer of the MakeUK industry lobby group. Prime Minister Theresa May’s agreement with the European Union to postpone Brexit to Oct. 31 from April 12 leaves companies in limbo, he said in an interview.
“There’s no good news here -- it’s extended uncertainty,” said Phipson, whose words carry weight because many companies his group represents are based in Brexit-voting areas of central and northern England. Smaller and medium-sized manufacturers especially face financial difficulties. “It’s a dramatic moment -- there’s just nothing going on” in terms of investment, he said.
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