BCC's Marshall on U.K. Economy, Brexit Negotiations

The transcript discusses the challenges of modeling the UK economy amid uncertainties like inflation and Brexit. It highlights the impact of Brexit on business sentiment and the importance of securing a transition deal. Businesses are planning for various outcomes, with some already acting on contingency plans. The discussion also covers trade deal frameworks and the potential impact of political changes, such as a Jeremy Corbyn administration, on business strategies.

What is one of the main assumptions made in the economic model for the UK economy?

• Unemployment will rise sharply.

• The UK will have a budget surplus.

• Inflation will remain relatively high.

• Interest rates will decrease significantly.

Why is the transition deal important for UK businesses?

• It eliminates all tariffs.

• It guarantees tax reductions.

• It ensures free movement of people.

• It provides clarity on trading conditions.

How do businesses view the probability of a 'Cliff edge' scenario post-Brexit?

• It is no longer a concern.

• It has lessened.

• It has remained the same.

• It has increased significantly.

What does 'Canada plus plus plus' refer to in the context of UK trade deals?

• A proposed trade agreement framework.

• A political party's manifesto.

• A new currency system.

• A type of economic model.

What do businesses want to know about trade agreements?

• The political motivations behind the agreements.

• The practical implications for their operations.

• The historical context of the agreements.

• The institutional framework details.

What is a major concern for businesses regarding a potential Jeremy Corbyn administration?

• Reduced emphasis on infrastructure.

• Lower corporate taxes.

• Decreased public spending.

• Increased nationalization and regulation.

What is a common concern among businesses regarding political changes?

• The increase in foreign investments.

• The need to adjust business plans.

• The stability of the currency.

• The potential for reduced global trade.