BCC's Adam Marshall on Brexit Talks, 2Q Growth

The video discusses the impact of Brexit on businesses, highlighting concerns about political rhetoric and economic indicators. It explores the changing relationship between business and government post-election, emphasizing increased engagement. The complexities of Brexit, including the need for a transition period and technical challenges, are examined. Economic indicators show a subdued second quarter, with inflation pressures easing but growth appetite remaining low. The services sector lags behind manufacturing, and while exports benefit from lower sterling, input costs rise. Wage pressures are not as strong as expected despite labor shortages.

What are the two main perspectives businesses have regarding Brexit's impact?

• Focus on current business conditions and ignore political noise

• Embrace political opinions and ignore business fundamentals

• Rely solely on government guidance

• Wait for a final Brexit deal before making decisions

How has the relationship between business and government changed post-election?

• Businesses are avoiding government interaction

• The relationship remains unchanged

• There is increased engagement and openness from government officials

• Government is less open to business concerns

What is a major challenge businesses face in the Brexit transition?

• Lack of interest in international trade

• Excessive government support

• Complexity of adapting to new trade conditions

• Overabundance of skilled labor

What is the primary concern for businesses regarding the transition period?

• Excessive trade opportunities

• Too much focus on domestic markets

• Lack of government support

• Having multiple sets of adjustment costs

Which sector is experiencing slower growth compared to manufacturing?

• Services

• Retail

• Technology

• Agriculture

How are manufacturers benefiting from the current economic conditions?

• Reduced competition

• Higher domestic demand

• Lower sterling value

• Increased government subsidies

What is the biggest constraint on growth for many businesses?

• Lack of raw materials

• Inability to find skilled labor

• Excessive government regulations

• High export tariffs