Overseas companies that invest in the UK issued a flurry of warnings on Tuesday about the threat Brexit poses to their businesses, the FT reports.
Overseas companies that invest in the UK issued a flurry of warnings on Tuesday about the threat Brexit poses to their businesses, signalling their growing concern as the UK prepares to start the formal process of leaving the EU.
Forty European business lobbies, representing 20m companies in 34 countries, issued a statement calling for a post-Brexit settlement which would preserve the integrity of the single market, deliver a smooth transition and avoid creating « unnecessary » obstacles to trade and investment.
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Meanwhile, Japan ‘s Keidanren, the powerful business group whose membership includes Toyota , Hitachi and other large Japanese investors in the UK, is preparing a communiqué taking issue with Mrs May’s « no Brexit deal is better than a bad deal » — a comment that has sent a chill through the boardrooms of Japanese companies that collectively employ an estimated 140,000 people in the UK.
« The key message is this: please negotiate with deeper consideration for the economy, » said a person who has seen a draft of Keidanren’s demands and policy proposals, which are expected to be released in early April.
The letter, which revives earlier warnings from Japanese corporate leaders of Britain’s « cliff edge » exit from a market of 500m consumers, would be the third major representation from Japan since the June 2016 referendum.
