James Stewart, Head of Brexit at KPMG UK comments on "Latest business view on Brexit."
James Stewart, Head of Brexit at KPMG UK said:
“The Brexit holiday that businesses might have been enjoying is now over. Businesses are watching the politics with a certain amount of resignation, pondering what a new Prime Minister will mean for their Brexit plans and if ‘no deal’ will soon be back on the table. Few businesses are in the mood to make further provisions at this stage and most hope that the leadership contest will be over quickly.
“In the meantime a lot of the focus has shifted towards businesses’ own supply chains. Not just manufacturers of goods, but also the lenders and financial services firms in the chain so that they can identify any potential weaknesses.
“Retaining people with the right skills is another area of concern, given the uncertainty around the new immigration rules. Seasonal workers for example have been late in arriving and not in the usual numbers.
“Above all, businesses tell us that Brexit remains a huge distraction. They are reluctant to waste too much effort but the worry is that they will implement their plans at the last minute and delay important investment decisions.”
About KPMG in the UK
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
Ed Fotheringham Smith
Mob: 07920 572490
© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.