Business leaders value legal certainty over ambitious Brexit deal
A survey from professional services and Big Four firm KPMG has found that businesses in the UK value legal certainty over an ambitious Brexit deal agreed later on.
The study surveyed 280 chief financial officers and chief executive officers to find out how important a steady transition deal is to their business.
The survey found that more than 65% want legal certainty on a transition deal by April this year with a future Brexit deal that is less ambitious, rather than a more comprehensive deal that is agreed later on.
The study showed the importance of a transition deal to UK businesses, with 20% of respondents saying that they would not be able to operate as usual in March 2019 without one.
Businesses also revealed how they think their business would be affected if a steady state transition agreement between the UK and EU is not reached by April, with one third saying that it would have a negative impact and 43% expecting their company to see some competitive advantage.
Commenting on the findings, James Stewart, Head of Brexit at KPMG, said: “Whether business leaders see Brexit as a burden or a great British opportunity, most regard certainty around transition as one of the fundamental building blocks for growth. Whilst the public is more fixated on the final deal, the CEOs we’re speaking to are often willing to accept a more modest deal in exchange for certainty so they can make investment decisions now.”