A Fiscal Studies article, containing insights from the Decision Maker Panel (DMP), has been released. It explores the substantial uncertainty for UK business created by the the UK’s decision to leave the EU in the 2016 referendum. The DMP, to which the Heritage Alliance contributes, made three key findings:
- Brexit was reported to be one of the top three sources of uncertainty for approximately 40% of UK business in the two years following the June 2016 vote, and this proportion increased in Autumn 2018.
- Uncertainty has been higher in industries that are more dependent on trade with the EU and EU migrant labour.
- Uncertainties around Brexit are primarily centred on long-term, rather than short-term, impact for businesses.
The uncertainty is characterised by its length, breadth and political complexity.
The article is available here.