Philip Hammond and Mark Carney trusted by bank bosses on Brexit

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Company finance chiefs trust Philip Hammond and Mark Carney most to deliver a good Brexit deal, according to a survey.

They gave the Chancellor and Bank of England governor eight and 8.6 out of 10 respectively to ensure there is a positive outcome for business as the UK splits from the European Union.

Theresa May got just 3.5, while pro-Brexit International Trade Secretary Liam Fox ranked even lower on 3.2 in the survey by Thomson Reuters of 200 chief finance officers in Britain and other European countries.

It also showed most businesses — 69 per cent — are yet to change their strategic planning after the UK’s decision to leave the EU despite fears it could hit investment and the labour market.

“The results suggest a relatively muted response from business so far and not the knee-jerk reaction that some expected,” said Laurence Kiddle, managing director for the EMEA Tax & Accounting business of Thomson Reuters.

Only 12 per cent of CFOs had investigated moving operations out of Britain, the study found. 

While just over a third of firms anticipated the number of employees in the UK decreasing, only 19 per cent said they planned to relocate staff due to Brexit. Some are changing their plans in response to Brexit already, with slightly over a fifth of all CFOs saying they have held off from expanding in the UK as a result of the vote last June.

Earlier this month Royal Bank of Scotland said it will move 150 jobs to Amsterdam due to Brexit.

However, Amazon ramped up its hiring in Britain yet again yesterday.


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