A survey of German companies’ subsidiaries in Britain and British firms’ subsidiaries in Germany has found that nearly half the companies aren’t prepared for Brexit.
The survey of 101 firms, conducted in December and January and released Thursday, showed that 47 percent hadn’t carried out a Brexit risk assessment. It was conducted by auditor KPMG and the British Chamber of Commerce in Germany.
It showed a wide variety of expectations for the outcome of the Brexit impasse. KPMG’s Andreas Glunz said that “when all scenarios are possible, a company can’t prepare for all scenarios simultaneously.”
Thirteen percent of respondents said that, if Britain leaves the European Union without a deal, they would move some or all of their business from the U.K. to Germany, and a further 10 percent planned to move business from Britain to another EU country. None planned to move business to Britain.
British Prime Minister Theresa May is making a final effort to save her European Union withdrawal deal after her promise to quit failed to win over lawmakers from Northern Ireland.
May pledged Wednesday night that she would stand down if the deal were approved, in hopes of blunting opposition from lawmakers who have criticized her leadership. While some opponents, including former Foreign Secretary Boris Johnson, quickly said they would back May’s deal, Northern Ireland’s Democratic Unionist Party said it remained opposed because of concerns it treats the province differently from other parts of the U.K.
Parliament later rejected eight alternatives in a series of “indicative votes.”
Brexit secretary Stephen Barclay said the outcome showed May’s deal was “the best option” as he appealed for lawmakers to support the agreement.