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UK business confidence hit by cluster of Brexit uncertainties

UK business confidence hit by cluster of Brexit uncertainties

London : Chief Financial Officers (CFOs) at UK companies remain wary ahead of the finalisation of Brexit in 2019. As the end-game approached, a new survey of British CFOs shows their confidence in business outcomes is languishing at a net of -30%, the lowest level since the aftermath of the initial referendum result.

The effect of Brexit negotiations – which continue under a cloud of uncertainty in the face of cabinet and parliamentary negotiations – have more than made their mark on the business community. As a result, CFOs face a gruelling few months, as many attempt to figure out the conundrum of an antidote to Brexit uncertainty before the UK formally secedes from the EU.

While the uncertainty of Brexit works both ways, occasionally leading to optimistic forecasts on the part of business leaders during the two-year negotiation window, at the end of it all, the sentiment seems to have firmly settled in the realm of pessimism. Earlier in the year, Deloitte reported on the dimming CFO optimism across the UK, with falling expectations for company performance, and heightened risk aversion. Now, the latest analysis from the Big Four firm has found that business leaders feel incredibly uneasy about their UK operations going forward.