Commenting after Michel Barnier said Brexit transition should end on 31 December 2020, James Stewart, Vice Chair at KPMG UK said:
“The businesses I speak to are not really focussing on the end date of any implementation or transitionary period.
“What they are far more interested in, is whether legal certainty on the transition period can be established quickly, and whether agreement on a clear end state can be sorted out in 2018. Only then will the very real potential of a cliff edge in March 2019 begin to dissipate - or at least be pushed back to 2020 or 2021.
“Until then, business will simply continue planning for the worst case scenario, putting off major investment decisions as long as they can, whilst being acutely aware that the long lead times associated with system change mean some decisions cannot be ducked for very long.”
Notes to editor:
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