Businesses fear uncertainty

Bosses in Kent fear the uncertainty created ahead of the Brexit negotiations after the Conservatives lost their majority in the general election.

The general election outcome is “not the decisive result the country needed” according to Clive Stevens, chairman of accountancy firm Kreston Reeves, based in Chatham, Canterbury and Sandwich.

He said: “It does not strengthen the government’s hand to secure a good Brexit deal. Yet again the Tories have suffered a self-inflicted wound.

“A poor election campaign demonstrates that they really do need to learn to listen to and connect more with the people.

“At least we seem to have avoided Labour’s desire to impose the highest rates of tax the UK would have seen in peacetime.

“This would have affected all of us – not just those considered wealthy.”

Jo James, chief executive of Kent Invicta Chamber of Commerce, said: “The UK electorate has accomplished the unlikely feat of piling more uncertainty on business communities already grappling with currency fluctuations, high up-front costs, and the Brexit process.

“The formation of a stable administration that can give voters and businesses confidence around both economic management and Brexit negotiations must be the absolute top priority.

The Institute of Directors’ Kent branch chairman Jane Ollis said: “The result is disappointing for business in terms of continued uncertainty.

“Longer term outcomes could be more positive as the incoming government without a mandate for a ‘hard’ Brexit will lead to a more measured and engaging negotiation with our friends in Europe.”

Mark Quinn, MD of Canterbury-based property development and investment group, Quinn Estates said: “What the country needs is a period of stability and leadership and I hope that all the political parties can now work together to ensure the economy thrives post Brexit.

“The Conservatives as the largest party now have the first crack at forming a government with their manifesto including a pledge to build one million homes by the end of 2020 and 500,000 more by 2022.

“The election result, however, raises real questions about whether those promises will be delivered. It’s vital that they do.”