European finance chiefs back Brexit Britain regardless of plummeting pound
International corporates are still committed to the UK despite Sterling’s slide since the Brexit vote, according to new research by EuroFinance.
In a survey of more than 440 treasury and finance professionals, over half of firms remain loyal to Britain and fail to see any negative effects from the negotiations on their business, although over a third admitted to adverse commercial setbacks.
A surprisingly high number of corporates also appear unwilling to rein in spending (41 per cent), with 7 per cent even stating they would invest more in the UK. Relocation fears also appear to be unfounded, with less than 10 per cent opening new European offices, and a mere 8 per cent defiantly moving jobs from the UK to EU countries.
Commenting on the findings, Asif Chaudhury, Managing Director of EuroFinance, said: “While the referendum aftermath has had an unsettling effect, financiers working for major corporates clearly still view Britain as best for business. The overriding consensus seems to be that businesses can continue to source financing and services relatively unscathed. But as the negotiations progress, this view needs to be supported by policy makers both in Brussels and Westminster to ensure market stability and continuity.”