CII highlights Brexit concerns

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Insurance

According to the UK Chartered Insurance Institute’s (CII) annual ‘economic and Brexit temperature check’, Economic and employment prospects for 2018, a majority of CII members believe that Brexit is bad for the UK economy, with 41 per cent disagreeing with the proposition that Britain will be made a better place to do business following its split from the European Union (EU), versus only 14 per cent who agree with that proposition. Additionally, 50.4 per cent of members do not feel that the UK Government is effectively representing their interests in its ongoing negotiations with the EU, with 37 per cent believing that a second referendum would be beneficial for their firm, versus the 15 per cent who would consider such a move to be damaging.

A majority of senior workers do not think that their businesses will move their operations out of the UK if a ‘no-deal’ scenario comes to pass, but 14 per cent of CEOs and 22 per cent of senior directors think that it is either likely or highly likely that their firms will take this measure.