Here’s a round-up of the top-brexit related stories this week.
Uncertainty Impacts Business Investment
Uncertainty over the trading environment after the EU referendum is impacting the capital expenditure of businesses, according to ICAEW.
According to the institute’s economic forecast, business investment is likely to fall by 1.3% in 2016 and by 2.4% in 2017.
Stephen Ibbotson, director of business at ICAEW, said:
“Obviously money doesn’t grow on trees but it does grow faster in a business environment filled with certainty, so the government needs to offer businesses incentives that will restore business confidence.”
Defined Transfers At Record High
As the country’s 10-year gilt yields fell below 1% following the EU referendum, the value of defined benefit (DB) transfer values were pushed to a new high, increasing the cost of defined benefit schemes to meet their liabilities.
Paul Darlow, head of propositions at Xafinity said that the high values of DB transfers was not good news for pension schemes.
May Seeks Early Agreement On Status Of Britons In The EU
In a summit meeting with EU leaders this week, Theresa May said she wanted an early agreement on the status of Britons living in EU as plans continue to be discussed over the process of Brexit.
As well as concerns over EU citizens living in the UK, leaders expressed that negotiations over Brexit would be approached in “a spirit of trust and unity”.
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