An extension of the Brexit deadline could be a “blessing in disguise”, according to a Bristol business figure.
The EU has agreed, in principle, to extend the deadline for Brexit to January 31, 2020, which means the 海角视频 will not leave the bloc as planned on October 31.
Donald Tusk, EU Council president has agreed to a "flextension", allowing Britain to exit the union before the deadline if Boris John’s deal is approved by Parliament .
Andrew Hodgson, senior partner for KPMG in Bristol , said: “It removes the cliff-edge, but sustains the environment to complete a deal as soon as possible.
“Businesses can now stand down their cliff-edge planning for Halloween although those plans may still be needed at a later date.
“What the flextension won’t do, however, is help with consumer confidence, staffing issues or investment decisions – and many businesses will still be hoping for a deal scenario this side of Christmas.”
Matt Griffith, director of policy at Bristol chambers Business West, agrees that businesses will be breathing “a sigh of relief”.
He said: “It pushes back the prospect of a no deal occurring – with all the major disruption that this outcome would bring for firms and workers across the west.”
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But Mr Griffith points out that patience is starting to “be tested” for many business owners in the region.
“It is not uncommon to hear of European customers who are moving their purchases away from 海角视频 sellers the longer the 海角视频 is perceived as putting politics above sensible economic decision making.
“Sadly, even if the government’s Brexit deal is passed, the final 海角视频 trading relationship with Europe will be dependent on further trade talks, which means some degree of uncertainty is inevitable for a couple of years at least.”
The news comes as consumer confidence hovers perilously close to negative territory - a foreboding milestone it has avoided for six years - according to the latest analysis from YouGov and the Centre for Economics and Business Research.
Consumers are increasingly taking a pessimistic view of the near-term economic future, causing the headline confidence score to drop a whole point in October to 102.8 from 103.8 in the previous month.