KPMG comments on the business and economic impact following the election outcome
KPMG comments on impact following the election outcome
Vice Chairman and Head of Brexit at KPMG in the UK, James Stewart comments on the impact following the election outcome.
Commenting on the impact following the election outcome, James Stewart, Vice Chairman and Head of Brexit, KPMG UK says:
“Business will welcome the clarity of the election outcome.
“However in terms of the Brexit deal, the attention will be on the final exit deal in 12 months rather than the transition deal at the end of January.
“The Government’s two priorities for the next 12 months should be securing a good Brexit deal and getting the UK back on the path to growth – for example, investment in infrastructure and upskilling the UK workforce.
“Businesses and people will also be hoping for an inclusive government that addresses the divisions in society and achieves a better future across the UK.”
Yael Selfin, Chief Economist at KPMG UK, added:
“Reigniting investment spending and accelerating growth will be key for the new government but as the cloud of uncertainty around an EU deal is likely to remain throughout next year, public spending will need to do the heavy lifting.
“The new government must also turn its attention to some of the longer standing challenges facing the UK, such as poor productivity and declining regional opportunities, to help secure a better long term future, while addressing the challenges and opportunities presented by new technology and climate change.
“Although there is a broad consensus that a measured increase in public spending is right for the UK, limited capacity, both within government as it focuses on completing a deal, and in the labour market, call into question the extent of a boost it will bring next year. It could now be time to accelerate devolution and reconsider UK future migration policy.”
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About KPMG in the UK
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