One in seven businesses active in Britain is considering moving to the Continent as a result of Brexit, according to a study published Tuesday.
The top destination for firms looking to leave the U.K. is Germany, according to professional services firm Ernst & Young, which surveyed more than 250 international corporations.
Close to 54 percent of companies said they would pick the EU’s largest economy, followed by 33 percent the Netherlands and 8 percent France.
“This shows that Britain’s looming exit from the EU is causing great uncertainty for the British economy,” said Ernst & Young’s Germany chief Hubert Barth, Reuters reported.
Only 22 percent of firms saw Britain as a top investment location, down from 27 percent last year, while 40 percent ranked Germany as most attractive for investment.
Among the respondents, 34 percent expected the U.K. would become a less attractive location over the next three years.
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