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Key questions remain unresolved for business when Brexit approaching
From:Xinhua  |  2019-02-13 20:43

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LONDON, Feb. 13 (Xinhua) -- With less than 50 days to Brexit, critical questions remain unanswered for business, the British Chambers of Commerce (BCC) said on Tuesday night.

The BCC highlighted 20 key issues that are still unclear for business in a "no deal" scenario on March 29, including what trade agreements will be in place, how firms can move skilled staff, and which regulations they will need to follow.

According to BCC, the business group which represents 75,000 firms and employing nearly 6 million people, while firms understand that negotiations are still ongoing, they are hugely concerned that the UK is not prepared for all eventualities.

Adam Marshall, Director General of the BCC, said: "in less than 50 days, UK firms could face the biggest change to their terms of trade in over a generation, without the information and clarity they need to navigate their forward course."

The BCC also warned that the absence of clarity and precision has already stifled investment and growth. "The lack of clear, precise answers is now causing real damage to many businesses, and to the wider economy," Marshall added.

Earlier this week, official figures showed that Britain's gross domestic product (GDP) in 2018 increased by 1.4 percent, hitting its weakest level since 2009. Many economists believed that the uncertainty over Brexit has taken its toll on the economy.

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