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Brexit: Uncertainty is what will weigh heaviest on business

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Written by: Southwestbusiness.co.uk | Posted 27 June 2016 6:42

Brexit: Uncertainty is what will weigh heaviest on business

Voting ‘out’ of the EU has been greeted with everything from condemnation to talk of a pending recession by the county’s business community.

Not everyone is negative, but for everyone the uncertainty appears to be the most worrying factor.

Dale Vince, founder of Stroud green power company Ecotricity and owner of Forest Green Rovers, was an active remain campaigner.

“My reaction is shock. I think it’s a big change about to be brought about by a small majority in the vote – four per cent margin is all. Too small a margin for such a monumental change IMO,” he said.

“And Brexit has been mis-sold by Gove, Johnson and Farage – the three stooges – with a cocktail of lies and thinly veiled racism. But ultimately this is Cameron’s fault, he put party management ahead of the country, he gambled and we all lost.”

Darren Sherborne, an employment expert and managing partner of Sherbornes Solicitors, said: “It is a difficult position. I think the next five years it will be a turgid time economically.

“That does not mean Brexit was right or wrong – it is the uncertainty. Looking at the labour market, most of the British labour laws came from Britain, not from Europe. It may be that to trade with Europe we have to now play by their rules and honour their laws.”

David Burren, of Gloucestershire investment and wealth management specialists Warwick Butchart Associates Ltd, called the decision “momentous”.

“We may face a technical recession (two consecutive quarters of negative economic growth), and would not be surprised to see a reduction in UK interest rates introduced very quickly – probably with further QE to support the UK economy,” said Mr Burren.

Ben Compton, of property and agriculture experts Bruton Knowles, said: “Going forward it’s vital that whatever shape the Government takes, there is a willingness to implement farmer-friendly policies that will help the UK compete with their European and worldwide counterparts.”

A statement from GFirst LEP said: “Local Enterprise Partnerships will build on the £5billion of private sector investment they’ve already generated and will continue to support business growth through investment in local infrastructure, innovation, education and skills, transport and local growth hubs.”

James Strickland, of recruitment specialists Passionate About People, said: “Brexit has won, however, one thing is for certain: nothing will change overnight – negotiations, meetings, deals and formal resignations could take years to put in place.”

Mr Sherborne added: “While I am not optimistic about the short term, in the longer term there is everything to play for. Generally, it will settle down and in 10 years time we will be ticking along and everyone will have learned to be comfortable, whether that is more comfortable than today or not, remains to be seen.”

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