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You can find the current article at its original source at http://www.theguardian.com/business/2018/jul/05/german-businesses-reluctant-to-invest-in-uk-over-brexit-uncertainty
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| German businesses 'reluctant' to invest in UK over Brexit uncertainty | German businesses 'reluctant' to invest in UK over Brexit uncertainty |
| (35 minutes later) | |
| German business leaders have issued a strongly worded statement warning they are “reluctant” to invest in Britain because of Brexit uncertainty. | German business leaders have issued a strongly worded statement warning they are “reluctant” to invest in Britain because of Brexit uncertainty. |
| Germany Industry UK, which represents 100 companies, including BMW, Mercedes-Benz, Lufthansa, the train and bus operator Arriva and the steel producer ThyssenKrupp, said it needed “certainty and clarity about the way forward sooner rather than later”. | Germany Industry UK, which represents 100 companies, including BMW, Mercedes-Benz, Lufthansa, the train and bus operator Arriva and the steel producer ThyssenKrupp, said it needed “certainty and clarity about the way forward sooner rather than later”. |
| Bernd Atenstaedt, the chairman and chief executive of GIUK, said it was frustrating for his member businesses because they still did not know what a post-Brexit Britain would look like two years after the referendum. | Bernd Atenstaedt, the chairman and chief executive of GIUK, said it was frustrating for his member businesses because they still did not know what a post-Brexit Britain would look like two years after the referendum. |
| “There is some reluctance from German business to invest in the UK with projects on hold because of the uncertainty about the future and with only nine months left before the UK leaves the EU, time is running out,” he said. | “There is some reluctance from German business to invest in the UK with projects on hold because of the uncertainty about the future and with only nine months left before the UK leaves the EU, time is running out,” he said. |
| GIUK said German business would like continued free access without tariff and non-tariff barriers for exports to the UK, plus continued free access to the EU for exports from the UK, one of Germany’s most important markets worldwide. | GIUK said German business would like continued free access without tariff and non-tariff barriers for exports to the UK, plus continued free access to the EU for exports from the UK, one of Germany’s most important markets worldwide. |
| It said a customs agreement between the EU and the UK would be “in the interest of Germany business operation in the UK, with minimum customs declarations and quota restrictions”. | It said a customs agreement between the EU and the UK would be “in the interest of Germany business operation in the UK, with minimum customs declarations and quota restrictions”. |
| German business employs 400,000 people in 2,500 companies in the UK. | German business employs 400,000 people in 2,500 companies in the UK. |
| Atenstaedt told the Guardian that many of them would not go as far as Airbus, which is also a member as a company with German shareholders, and threaten to cut back their operations in the UK in the event of a hard Brexit. | Atenstaedt told the Guardian that many of them would not go as far as Airbus, which is also a member as a company with German shareholders, and threaten to cut back their operations in the UK in the event of a hard Brexit. |
| However, they were nervous about the future, he said. | However, they were nervous about the future, he said. |
| His comments echo those of the former head of the City of London Sir Mark Boleat, who said most financial services companies who were moving operations to other European capitals would not announce that their decisions were related to Brexit because they did not want the negative publicity. | |
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