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Firms frustrated over Brexit uncertainty

by LLB Editor October 28, 2019

written by LLB Editor 28^th Oct 19 7:28 am

The original Brexit 31 March deadline has given way to 31 October, and now Thursday’s leaving date is in jeopardy.

John Nollett, chief executive of metal fabricators Pressmark Pressings, tells BBC Radio Five Live’s Wake up to Money that his firm started stockpiling materials in late 2018 in advance of the original leaving date, with only small volumes of extra stock released during July and August 2019.

He estimates the firm’s stocks to be “up 50%”.

“The cost has been borne by the company and staff,” he adds, saying that the extra cost of stockpiling “means we have had to cut staff training”.

Henrietta Brealey, Director of Policy and Strategic Relationships at The Greater Birmingham Chambers of Commerce, says there is “frustration” among firms at not knowing how far the Brexit leaving date may be extended.

But she does say that there is “very little concern now about a no-deal Brexit.”