Update on Brexit from EY

It has been a relatively quiet month for Brexit as most national governments took the Easter break to draw a breath and regroup. On a somewhat positive note, the official withdrawal date is now scheduled for 31 October 2019 – seven months after the original withdrawal date.

This gives the UK more time to agree on a deal internally but the EU has reiterated the withdrawal agreement will not be re-opened. The extension does little to support business. Businesses are less likely to make investment in such an ambiguous climate, more clarity surrounding Brexit would benefit businesses greatly but given the events of the past (almost) three years, this is unlikely.

In an otherwise quiet month on the Brexit front, fresh calls for independence referendums emanating from both Scotland and Wales has ensured that Brexit discussion remained at the forefront of political discourse.

Read our latest Brexit Update here.