Survey: Half of EU business leaders cut UK investment over Brexit

June 25, 2018 02:05
1 minute read.
Breaking news

Breaking news. (photo credit: JPOST STAFF)


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


FRANKFURT - Britain's looming departure from the European Union has led nearly half of big companies from the rest of the bloc to cut investment in the country, a poll of 800 executives released two years after the Brexit referendum found.

The survey, by law firm Baker & McKenzie, also found that three quarters of bosses wanted Brussels to make concessions to Britain to secure a better trading relationship after it leaves the EU in early 2019."It's very clear that, especially German companies, think that Brexit is bad for business," said Anahita Thoms, a trade partner at Baker & McKenzie in Duesseldorf.

Germany's BDI industry group warned last week that Britain is heading towards a disorderly Brexit that could have disastrous consequences.

Airbus has said a withdrawal without a deal would force the aircraft maker to reconsider its long-term position and put thousands of British jobs at risk.

However, Prime Minister Theresa May's spokeswoman said the government was confident of getting a good deal ensuring trade is as free and frictionless as possible.

Asked whether punishing Britain for leaving the EU or continuing to trade on preferential terms was more important, 96 percent of respondents to the survey said trade was more important than teaching London a lesson for Brexit.

There was also a majority view that business leaders had not been properly consulted, or their views taken into account, by the EU negotiating team as it tries to hammer out a post-Brexit trade deal.

Two thirds of respondents said they wanted a free-trade deal while 45 percent were in favor of a customs union, Baker & McKenzie said.

The law firm surveyed executives in France, Germany, Sweden, Ireland, Spain and the Netherlands working at companies in a range of industries with annual sales of at least 250 million pounds ($330 million).

Britons voted on June 23, 2016 to leave the EU.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
March 23, 2019
China chemical plant blast kills 62