Brexit spurs biggest cut in UK business investment

LONDON: Even if Prime Minister Theresa May gets a deal to ease the country out of the Brexit bloc, British companies in the UK will cut investment by the most in 10 years, BBC reported on Monday.

According to the British Chambers of Commerce (BCC), the investment forecast is expected to fall by an annual 1.0 per cent in 2019. Many financial firms have set up operations in other EU countries and carmakers have reduced their expansion plans in Britain. Early this month, BMW said it could move some output in the event of a no-deal Brexit.