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Royston Carr - Brexit Transition Deal Increases Confidence

Royston Carr - UK business confidence improves after Theresa May strikes Brexit transition deal.

TAIPEI, TAIWAN, April 14, 2018 / -- Last month, the UK reached an agreement with the European Union on a transition period of 21 months after Brexit. Royston Carr analysts say that, according to a survey, the Brexit transition deal has bolstered confidence among business owners in the UK.

A leading accountancy firm stated that almost 30 percent of Chief Financial Officers (CFOs) interviewed were more confident about the business outlook for the UK after the deal was struck than they were three months earlier.

British Prime Minister, Theresa May and the rest of the European Union’s officials agreed to maintain their existing trade ties until the end of 2020.

Royston Carr analysts say this deal has delayed the potential disruption businesses were anticipating until the end of 2020 although this deal is not yet legally-binding as the EU and UK must still reach an agreement on their long term trade relationship.

Analysts at Royston Carr say appetite for risk increased after the transition deal was reached with twice as many finance chiefs indicating that it was a good time to take on more risk.

The survey also revealed that corporate uncertainty was at a 24-month low although a third of CFOs still believe their companies face a relatively high degree of uncertainty.

Royston Carr analysts say the UK’s economic growth has slowed since the country voted to leave the European Union in June 2016. Royston Carr analysts say this weaker growth can be partly attributed to reduced growth in investment expenditure by businesses.

Royston Carr analysts commented that, for the first time since 2016, Brexit has been replaced as the top risk facing CFOs. Weak consumer demand, caused by higher inflation is now the primary risk.

Sophie Shen
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