UK could lose work after Brexit: report
MORE than one in five firms might have to move work from the UK because of Brexit, according to a new study.
A survey of over 900 company directors found that around one in 12 had made contingency plans for leaving the EU, including moving some operations.
The poll showed that 22% thought they might have to move some business to the EU.
Half of those questioned by the Institute of Directors (IoD) said they wanted to keep in step with the rules of the single market for goods and services.
The survey sent a clear message to the Government that a final deal must minimise barriers to trade, said the IoD.
Allie Renison, IoD head of EU and trade policy, added: “Companies have huge potential to grow their exports and seize opportunities in markets across the world, but a smooth Brexit is essential to paving the way towards this.”