Northamptonshire businesses send out positive message on Brexit

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The Governor of the Bank of England’s statement this morning about keeping cash flow going means it is business as usual in Northamptonshire, according to business leaders.

Paul Griffiths, the chief executive, said: “In the wake of the electorate’s historic decision to leave the European Union, the immediate priorities for UK business are market stability and political clarity.

Some businesspeople will be pleased with the result, and others resigned to it.

“Yet all companies will expect swift, decisive, and coordinated action from the Government and the Bank of England to stabilise markets if trading conditions or the availability of capital change dramatically.”

Mr Griffiths said that a schedule for Britain’s exit would be very helpful for businesses, who need to plan for their own futures and do not thrive on uncertainty.

He said “Firms across Northamptonshire want an immediate and unambiguous statement from the Government on next steps, along with a clear timeline for the UK’s exit from the European Union.

“Business will also want to see a detailed plan to support the economy during the coming transition period - as confidence, investment, hiring and growth would all be deeply affected by a prolonged period of uncertainty.”

Mr Griffiths said there was an opportunity now to “ditch the straight-jacket of fiscal rules” for investment in a better business infrastructure.

But he stressed that all political efforts must now be focused on the economy and its effects on people, not on politicians and their careers.

He said: “Businesses need action to maintain economic stability, a timeline for exit, and answers to their many practical, real-world questions about doing business during and after this historic transition.

“Firms want help to get Britain back to business at a time of great uncertainty.

“The health of the economy must be the number one priority – not the Westminster political post-mortem.”