British bosses weigh up flight to Europe in wake of Brexit
Three quarters of Britain’s CEO’s have admitted investigating the possibility of relocating business to the continent as part of contingency planning for the UK’s eventual exit from the EU.
The figures were detailed in a survey produced by accountancy firm KPMG, with the options being looked at ranging from shifting headquarters to relocating certain operations.
Of 100 business leaders polled, 23 per cent said they were ‘definitely considering’ a move east whilst a further 53 per cent said that they would ‘probably’ consider migrating to the European mainland.
Explaining its findings Simon Collins, chairman of KMPG UK, said: “CEOs are reacting to the prevailing uncertainty with contingency planning. For many CEOs, it is important that they plan different scenarios to hedge against future disruption.”
British businesses had been chief cheerleaders for freedom of movement and the single market, leading to angst amongst many at the prospect of any erosion of these principles.
In an apparent contradiction of these practical measures however some 69 per cent of respondents were either ‘confident’ or ‘very confident’ about the UK’s economic prospects over the next three years.