Brexit uncertainty slashes investment

Four-fifths of UK companies have cut or withheld investment because of the uncertainty caused by Brexit, Britain’s biggest business lobby said.

Some 58 per cent of businesses have made plans to cut jobs, adjust supply chains, relocate production and services or stockpile products if no clarity emerges soon on Britain’s future relationship with the European Union after Brexit, according to the Confederation of British Industry. In a survey of 236 firms, it found that 41 per cent have already implemented some contingency plans.