A top German business lobbyist Ulrich Hoppe has recently shown that EU companies are currently queueing up to invest in Britain instead of the continent as Brussels officials would have expected
Ulrich Hoppe who’s the director-general of the German-British Chamber of Industry & Commerce told newsmen that many companies in Germany are presently considering moving their investment from the EU to the UK.
Meanwhile, Julian Jessop, an economist at the Institute of Economic Affairs (IEA), told TalkRADIO that the outlook for the UK is “looking pretty good, particularly when compared to the EU”.
TalkRADIO host Mark Dolan picked Mr Hoppe’s statement in his interview with the IEA fellow and said, “There is good news on Brexit. A top German business lobbyist has said that firms in his country are lining up to invest in Britain after Brexit sparked less disruption than feared.”
Meanwhile, Mr Jessop responded, “That is a very important point and another reason to be optimistic about economic growth this year. A lot of the Brexit uncertainty is lifting. There are some important problems in some sectors but we haven’t had the no-deal crash out that people were fearing.”
He added, “Even some of those areas that have been hit hard, like trading goods with the EU, are starting to recover quite quickly. So relative to what some people feared the outlook is quite good. The UK is starting to look pretty good, particularly when compared to the EU, which continues to mess up its vaccine rollout and threaten private businesses.”
During his interview with The Telegraph this week, Mr Hoppe also aid that many firms previously planning to relocate staff away from Britain had now abandoned their plans to do so.
A recent survey on 117 businesses by the chamber found that 20 per cent were putting plans in place to move some of their business activities abroad as a result of Brexit – down from 70 per cent last autumn.
“I think there is renewed interest in the UK market and also in terms of investment in the UK market because it is an important market. And now, we have some clarity in terms of what the future or the current relationship will look like.
“Of course, it’s evolving with all the details. But that has given certainty. And that’s always important for companies.”