Almost half of EG readers polled said they would cancel Brexit after parliament rejected Theresa May’s Brexit deal this week, but the no-deal scenario also gained surprisingly strong backing.
Some 27% of respondents said they had a preference for a no-deal outcome, despite the implications for trade, talent and regulatory processes.
The majority favoured the “cancel Brexit” option, with 46% of respondents selecting this; 24% opted for a second referendum, and just 3% wanted a general election.
Overall, 269 people participated.
What’s your preference? Non-exhaustive list:
— Graham Shone (@GShoneEG) 16 January 2019
Leaving the EU without a trade deal would mean that the previously agreed “implementation period” running to December 2020 was no longer applicable, and the UK, while free to strike trade deals with any nation or trading bloc, would fall back on the World Trade Organization default trading rules and parameters.
This would cause the most disruption to UK real estate. Without any kind of deal there would no longer be a transition phase to get used to whatever new realities await international business operations post-Brexit. There would be an immediate and severe barrier to accessing global talent, as well as a lot of regulatory processes to become accustomed to, and the lengthy process of renegotiating those trade agreements.
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