Britain's economy has struggled beneath the weight of Brexit uncertainty fo...
LONDON - Britain’s economy has struggled beneath the weight of Brexit uncertainty for nearly three years, but many business leaders would probably be relieved just to have more of the same for the next few months.
But the possibility could return as soon as April 12. Or the delay could stretch into May or beyond, depending on the prime minister’s ability to break the Brexit impasse in parliament. “But we really need to make decisions soon. Prolonged uncertainty just means the investment decline of recent months will continue and companies will be forced to decide whether to move production elsewhere.”
While Britain would bear the brunt of a no-deal Brexit hit, U.S. Federal Reserve Chair Jerome Powell has said it is a risk for the slowing U.S. economy, along with Washington’s trade war with China.“It would be a material shock for the EU at a difficult time,” Brian Coulton, chief economist at ratings agency Fitch Ratings, said. “Among the things that could tip the euro zone into a recession, it might be a candidate.
“It’s like a kick in the groin. It depends how hard the other side wants to kick you, and how well you maneuver yourself,” Lyons said. A more managed no-deal Brexit could reduce the hit to about 2.5 percent, still a material hit at a time when the economy is struggling to grow by more than 1.5 percent a year.
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