A UBS survey of 600 companies that spells out the reality of a Brexit “dividend” for British business could signal disaster if the government doesn’t get a grip on the process soon, Professor Brian Cox has said today.
The physicist posted results from a recent business survey that showed 35 per cent of companies plan to reduce UK investment post-Brexit.
A further 41 per cent plan to move a large amount of capacity out of the UK and 42 per cent plan to shift capacity to the euro zone.
The results come hot on the heels of news that safeguarded jobs in the UK have fallen 54 per cent in the past year after the number of UK projects funded by Foreign Direct Investment (FDI) dropped nine per cent.
Figures from the Department for International Trade showed projects in Wales have fallen 33 per cent, with Scotland witnessing a 23 per cent fall, Northern Ireland an 18 per cent drop and London a 17 per cent decline.
Professor Cox posted: “I know that brexit’s about more than money and I should stick to physics and I’m a member of the elite from Oldham etc. etc. But these statistics from the UBS survey are quite shocking to me. They signal an absolute disaster if government doesn’t get a grip very soon”.
See the results in full below:
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