More than half of German firms believe Brexit will not affect their business in the UK

A new study has revealed that more than half (52 per cent) of German businesses that currently operate in the UK believe that Brexit will not have any real impact on their day-to-day operations.
The research, which was published by the Deutscher Industrie und Handelskammertag (DIHK) Chambers of Industry and Commerce in recent days, quizzed 900 German firms on their views about Brexit.
It found that while more than half believe that Brexit will not affect their existing relationship with the UK, only 12 per cent are anticipating an improvement in their business prospects in Britain once the nation has officially left the bloc.
Furthermore, it found that more than a third (36 per cent) were worried that their relations with the UK might deteriorate after Brexit.
DIHK President Eric Schweitzer said that the survey painted a pessimistic picture of German firms’ outlook of Brexit – as it indicated that many firms with investments in Britain were planning on moving their operations elsewhere in the coming years.
He pointed out that uncertainty was a growing problem, after more than half of firms quizzed told the survey that they felt the UK Government needed to immediately set out ‘reference points’ for a future relationship with the European Union (EU).
“In addition to swift clarity on Brexit, the EU and the [German] Government must also ensure that the internal market for the remaining EU 27 countries is further strengthened,” he said.

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