On 29 March, the UK is leaving the UK, if the exit is not delayed, which currently seems unlikely. Furthermore the agreement to determine the two-year transition period was voted down by the UK parliament last month and without an agreement there will be no transition period. This would result in a hard Brexit and threatens chaos for transport and trade between the UK and the EU.
Via Swedbank’s purchasing manager index, corporate economist from the bank, Johan Kreicbergs has asked large Swedish companies how they are preparing for Brexit.
Only 32.7 per cent have answered that they have made preparations while 36.7 per cent have not, saying it is not necessary. A further 11.3 per cent have said no, although believe they need to.
Johan Kreicbergs is surprised. “These companies are so large and have so much international trade that I have difficulty seeing that no preparations are required. In some cases this will give quite a big shcok if there is a hard Brexit.”
Trade Commissioner Cecilia Malmström comments that if companies are ill –prepared then they have not done their homework. She warns of the risks of a hard Brexit, which could damange Swedish companies and threaten Swedish jobs.
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