Business West Post EU Thoughts from Business

Commenting on the statement made by the Chancellor George Osborne following the UK’s decision to leave the EU, Phil Smith Managing Director of Business West, said:

“Businesses across the South West want a steady stream of communication from the government and the Bank of England.

“So far, the priority for the Chancellor and the Governor has rightly been the question of stability, as markets and firms digest the electorate’s decision. However, attention swiftly needs to turn to delivering clarity.

“Whilst it is prudent for the UK government to delay firing the starting gun on negotiations with the European Union, firms want a clear timetable, and simultaneous action to support the wider economy.

“Big decisions such as Hinkley Point C and devolution need to be followed through. The decision to delay a post-referendum budget must not be a convenient excuse for ministers to duck these important choices.

“Before the referendum, over two thirds of South West businesses told us that they are confident for the year ahead. Now that we know the result, we must see action and momentum in the coming months to ensure that firms can get back to business.”

 “Clearly this is a very sensitive time for all businesses. With the government appearing to be in turmoil, Business West through its Chambers of Commerce is well positioned to help business to get on with their business. We are keen to hear from anyone who has particular concerns surrounding the EU referendum result.

“Business West via the British Chambers of Commerce, is taking part in a round table discussion with Business Minister, Sajid Javid tomorrow (Tuesday 28 June). In addition to calling for stability in markets, clarity on the next steps and action to keep the economy going, we'll also be reiterating the importance of carrying on with the major infrastructure projects.

“We want to give businesses the opportunity to tell us their views so we've set up a snap poll to gather thoughts speedily. Click here to input your views, queries or concerns about the EU Referendum.”

If you have any burning questions, please feel free to contact our Policy Director, Matt Griffith matt.griffith@businesswest.co.uk or get in touch via Twitter on @bw_businesswest