POLITICO: Germany rated best for business post-Brexit

31 January 2017

A third of companies surveyed by Ernst & Young’s Germany said UK would become less attractive for business over next 3 years.

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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