Birmingham business leaders express disappointment over 'uncertainty' hung parliament will bring - The Solihull Observer

Birmingham business leaders express disappointment over 'uncertainty' hung parliament will bring

Solihull Editorial 9th Jun, 2017   0

BUSINESS leaders in Birmingham have expressed their disappointment this morning over the uncertainty that a hung parliament will bring.

Paul Faulkner, chief executive of Greater Birmingham Chambers of Commerce, said there is now additional uncertainty over Brexit after no party gained an overall majority.

Faulkner described Brexit as ‘the most important negotiation of a generation’ and added a question mark now hangs over the future of the Prime Minister.

He said: “It’s probably the worst outcome the business community could have hoped for.

“We have already instantly seen the impact of this uncertainty with the value of the pound dropping.

“Although some economists said the fall was not as large as expected, it remains to be seen how this increased uncertainty will impact on businesses’ investment and hiring decisions.

“Given the result, and the timing of the election (during the Brexit negotiation period) many will be questioning the wisdom of calling it in the first place.”

Faulkner added that it’s vital national politicians put ‘petty party politics’ to one side and agree a way forward for governing for the ‘good of the nation’.

He said: “We need robust leadership to ensure we have a rock solid approach to Brexit negotiations and domestic policy.

“Politicians of all parties must step up, recognise the vital importance of business and a strong economy to the health of the nation and focus on delivering the environment businesses need to flourish.

“Chamber members are no strangers to weathering political uncertainty.

“Despite the challenges presented by Brexit and the announcement of the General Election, businesses in the region and across the country have continued to grow and remain confident for the future.

“On a local level we will shortly be writing to all newly elected MPs in our region to share our General Election Manifesto and invite them to meet to discuss how we can work together to make the region the best possible place to do business and attract talent and investment.”

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