Deloitte comments on what the election result means for Brexit and UK business

Please see the below comment from Amanda Tickel, global Brexit lead at Deloitte, on what the general election result means for Brexit and UK business:

“The uncertainty around whether or not Brexit will actually happen ends today; but there’s still big questions as to the form it will take.

“The result does however provide greater clarity on the UK’s political outlook and moves the country into a new phase. Businesses must get ready, while wider attention can now turn to the hugely important question of Britain’s future trading relationship with the EU.

“Although there’s an understandable feeling of extension exhaustion – with many businesses having already partially implemented restructuring, stockpiling and logistics plans – there’s still thousands who have done virtually nothing. There can be no further delay.

“Some changes are known, such as the freedom of movement ending. But many – including access to services, tariff arrangements and data management – are all still on the table. Time must be spent looking at the content of the withdrawal deal and preparing for the new UK-EU trade arrangements, to be ready for this new era of UK business.

“The return of a majority government also provides an important opportunity to focus on the post-Brexit challenges the country faces – unlocking business investment, strengthening the building blocks of the economy, improving skills and raising social mobility.”

End

Notes to editors

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