The British landscape has been irrevocably reshaped by Brexit uncertainty, economic instability and high street insolvencies. Business confidence has fallen, with both employees and directors unsure how to navigate the stormy waters. Amongst sluggish wage growth and high interest rates, the government has yet to reach a trade agreement with the European Union and the business community fear the worst.
A new monthly confidence tracker conducted by the Institute of Directors has found business optimism to have dropped to -16 per cent, with pessimism, vastly outweighing the positives. The poll reported a brief period of optimism back in April when the EU and the UK government drew up two White Papers, as well as a draft Brexit withdrawal agreement.
The positive sentiment that these documents inspired was quickly deterred by the stagnant progress that followed. The post-Brexit climate remains uncertain, with the conditions over Britain’s break from the EU dividing politicians, even within the same political party.