Businesses operating in the United Kingdom have expressed deep frustration about the chaos the country plunged into last night due to Brexit. The British government suffered a historic defeat in the parliament over the divorce agreement it struck with the rest of the European Union. It is facing a confidence vote on Wednesday.
There are no more words to describe the frustration, impatience, and growing anger amongst business after two and a half years on a high-stakes political rollercoaster ride that shows no sign of stopping,” said Adam Marshall, the director general of the British Chambers of Commerce.
Companies and business organizations are worried the result of the vote means Britain is closer to crashing out of the union without a deal, which would mean new trade barriers and red tape.
Bob Shanks, Ford’s executive vice president and chief financial officer, said Wednesday a no-deal exit would be “catastrophic for the UK auto industry and for Ford’s manufacturing operations in the country.” Ford (F) has two engine plants in the country, employing 13,000 people.