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The British voting public is starting to create a proud record of confounding expectations. Theresa May has failed to secure a parliamentary majority, and with it, UK businesses now face yet another period of prolonged economic uncertainty. As well as surprise, businesses in the West will
no doubt feel frustrated by this unnecessary and self-inflicted political risk as they strive to compete both nationally and internationally. For many of the businesses we are helping to
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prepare for Brexit, the election result is likely to further darken an already very unclear horizon. On the flipside, some businesses will be heartened by the suggestion that with a greater role for parliamentarians and a stronger voice from business, the UK is now more likely to end up with a ‘soft’ Brexit and avoid crashing out of Europe without a deal. And our latest local business survey confirmed
‘It’s time for politicians to grow up and have an adult debate about the costs and trade-offs involved in Brexit’
that businesses in the West are overwhelmingly in favour of such a scenario. Nationally, the formation of a stable administration that can give voters and
businesses confidence around both economic management and Brexit negotiations must be the absolute top priority. It’s time for politicians to grow up and have an adult debate about the costs and trade-
offs involved in Brexit. While most companies have, for many months now, been doing their best to ignore the ‘noise’ generated by politics in order to focus on their own operations. Since the UK’s decision to leave the European Union, we have worked tirelessly to
educate and inform our members, in addition to working in partnership with them to find practical solutions to the problems that they are encountering as a result of Brexit. Yet, as the local business reaction to this election suggests, we cannot continue to fill this
void alone, the Government needs to be upfront with businesses about the challenges they face due to Brexit and provide robust local support to help overcome them.
PHIL SMITH MANAGING DIRECTOR OF BUSINESS WEST
JULY/AUGUST 2017 insight 3
Staying positive despite a period of uncertainty
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