UK Loses Its Competitive Edge
The UK may not hold onto its spot as the leading destination for inward investments for much longer, as Brexit threatens to dissuade overseas investors in favour of Germany and France – a seemingly safer bet.
The decline in investments was made evident through a survey compiled by EY of 450 global investors. It can be seen through the results that their market share fell in 2017 and 2016 as well. The survey also revealed that Germany was the top preference for investors, followed by France, with the UK in third.
In the past, companies looking to expand internationally have chosen to do so in the UK – now companies going international have been looking elsewhere as investors have rising concerns about Brexit.
However, all hope is not lost for the UK with the rise of digital projects. EY UK’s Chairman believes that if the UK proves its worth, then it can position itself as an attractive digital environment and maintain its success post-Brexit.
Mark Your Calendars – The UK’s Departure Date Has Been Set in Stone
June 12 and 13th saw MPs voting on amendments to the EU withdrawal bill imposed by the lords, with the government successfully blocking amendments from the House of Lords.
One such decision will see Theresa May writing up a new plan of what to do after Brexit if talks are still at a standstill after 30 November and receive MPs approval. Another important amendment set March 29th 2019 as the official leaving date, leaving no more room for negotiation.
Ryanair Continues its Expansion Within the UK
Despite Brexit now looming closer, Ryanair is continuing its international expansion of business with the opening of its second UK base at London’s Southend airport.
Ryanair is openly against Brexit, therefore the COO made it clear to the Financial Times that this was a vote of confidence in the Southend airport, not the UK.
The airlines will be making an investment of $300m as they base three aeroplanes at the airport, with over 55 flights being operated per week.
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