Farry says business survey results show Brexit effects

Alliance Economy spokesperson Stephen Farry has said we are now seeing the effects of the Brexit result after a major survey revealed more than two-thirds of local businesses are planning on revising their business plans due to the EU referendum.

The Quarter 2 Economic Survey by the Northern Ireland Chamber of Commerce said one in four companies had already revised plans due to the result, with a further 45 per cent of firms now planning to change business plans.

Around half also said they expect to revise investment plans, with 77 per cent raising concerns over what changes to EU trading rules could mean.

“Businesses continually state access to markets as one of the most important considerations they have, particularly regarding their investment plans,” said Dr Farry.

“The uncertainty the Brexit vote has created is now being seen in this survey, which confirms most companies see leaving the EU as a bad thing. Those parties who helped create that instability by campaigning for a leave vote have to take a long look at themselves and admit they got this wrong.

“The EU referendum result will have a long-lasting impact on Northern Ireland, and the wider UK and Ireland. It is vital those leading the negotiations around any exit firstly ensure they are on the same page and then listen to the concerns of local businesses, which are here loud and clear.”

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