British businesses don’t believe in no-deal Brexit

British businesses don’t believe in no-deal Brexit

The vast majority of UK businesses as well as individuals aren’t ready for a no-deal Brexit due to the fact that they don’t find it probable. That’s what the UK cabinet uncovered in a long-awaited analysis on Tuesday. However, the given attitude could back the disruption if it occurs, the government added.  

In London, lawmakers are expected to approve a deal, which would soften the UK’s departure from the word’s number one trading bloc due on March 29. The likelihood of a disorderly departure is still real.

On Tuesday, British Prime Minister Theresa May suggested that next month UK lawmakers would vote in favor of a delay.

Notwithstanding communications from the UK cabinet, there’s still little evidence that British companies are preparing for a no-deal scenario, and evidence ascertains that readiness of medium-sized and small businesses is quite low.

The short time before March 29 wouldn’t enable the UK cabinet to compensate for the outcomes of an undesirable no-deal Brexit.

One-in-for – that’s the likelihood of a no-deal Brexit from financial analysts’ point of view.

In November, Britain’s main financial institution disclosed a worst-case no-deal Brexit scenario, which revealed that the United Kingdom might suffer an even bigger economic hit than during the global financial downtime a decade ago.

Besides this, Tuesday's paper paid attention to the risks to particular industries, regions and individuals from a no-deal Brexit. Eventually, Northern Ireland would be affected harder and also for longer period than the rest of Great Britain on the condition the agreement is finally made.

By the way, other financial analysts stressed that their analysis resulted in rather a downbeat picture for the country’s businesses.  


Latest news

Evergreen buck heads north

On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…

Gold ascends on Brexit jitters

On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera