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Brexit Costing U.K. Business “Hundreds of Millions”

Stockhouse Editorial
0 Comments| January 10, 2019

“We can’t go on like this.”

That’s a warning from one of the U.K.’s most powerful cabinet ministers, Business Secretary Greg Clark, over the staggering cost the Brexit divorce has had on the country’s economy before it is even finalized.

Writing for Politico, he stated that “Hundreds of millions of pounds” are now being diverted by companies into no-deal planning, undermining investment in the its economy. M.P.’s outvoted Prime Minister Theresa May this week to gain more control over the Brexit process by forcing P.M. May to reveal her alternative Plan B, which could be amended by M.P.’s even further.

The London stock market ended 2018 with one of the worst performances in a decade.

“In recent weeks, confidence from investors has been shaken,” he wrote. “Through piling up stocks, renting warehouses and planning shutdowns of production — investors have every right to object.”



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