Brexit continues to cause uncertainty amongst UK businesses

Fifty-three per cent of UK firms have reported Brexit as one of their top three sources of uncertainty, according to the Bank of England (BoE).

Publishing the results of its December Decision Maker Panel (DMP) survey, the BoE noted this figure was slightly lower compared to the average of the previous three months, although the bank also said that Brexit-related uncertainty had remained well above its average since the referendum.

The survey, conducted between 6 and 20 December and receiving 2,887 responses, questioned CFOs from small, medium and large UK businesses, which the BoE will use to monitor developments in the economy and to track businesses’ views.

The results of the General Election were announced while the December survey was ongoing, and the BoE suggested around one-third of responses were received after the election. The bank revealed there had been a fall in Brexit-related uncertainty since the election.

On an unweighted basis, the DMP results showed 55% of firms had reported Brexit as an important source of uncertainty for their business in December prior to the election, the same as in November. Post-election, however, this proportion fell to 49%.

Furthermore, the survey results indicated the date at which businesses expected Brexit-related uncertainty to be resolved had also been pushed further into the future, continuing the trend in recent months.

Forty-two per cent of respondents thought that Brexit would not be resolved until at least 2021, a figure up from 34% in November’s survey.

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.

Air and the role of later-life lending
Content editor at MoneyAge, Dan McGrath, spoke to the chief executive officer at Air, Will Hale, about the later-life lending industry, the importance of tailored advice and how technology and obligations have shaped the sector.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.