Forget the Brexit Hype The Economy is Parked

Growth in the UK private sector remained stagnant in the three months to February as momentum in early 2019 remained subdued, the latest Confederation of British Industry Growth Indicator showed on Sunday. Looking ahead, further decline is anticipated with private sector activity expected to fall slightly, in the quarter to May, with a negative balance of 4%.

Mark Brownridge, Director General of the Enterprise Investment Scheme Association:

“These results reflect the continuing uncertainty that the prospect of a no-deal Brexit is presenting to businesses in the UK, both big and small. It’s madness. Uncertainty breeds fear and that’s what we will see more of with the continued debates and renegotiations. How can any business plan with political backdrop we are currently experiencing? We will now almost certainly see a slow-down in the economy that could have been easily avoided.

 Jenny Tooth OBE, CEO of the UK Business Angel Association:

“There is no greater community affected by uncertainty and the prospect of no-deal than those that live, work and trade in Britain’s regions. With a hugely significant level of funding being ripped from local government grants and various other EU funding pots, an overwhelming degree of financial and infrastructure related support is required to ensure that our flourishing global cities across the UK, in addition to towns in the Midlands and the North, continue to create an environment for new technology and businesses to grow.”

ABC Comment, have your say below: