In the face of Brexit, are British businesses left to sink or swim?
One year after the “yes” vote for Brexit, seen as traumatic, the time has come for the United Kingdom to accelerate the implementation of its exit from the European Union (EU). Prime Minister Theresa May wants to have free rein by calling early legislative elections on 8 June, where her victory is expected.
But have British businesses suffered from this decision over the past year? It is clear that the country’s activity and businesses have been globally spared, even though investment has shown signs of decline. The only significant shock has been the sharp depreciation of the pound sterling’s real effective exchange rate in the second half of 2016, which had little positive effect on the activity of exporting businesses but weighed on import costs.
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