Surveys by banks and the office of Chartered Accountants in England and Wales have found UK governments and foreign companies ’ local subsidiaries are taking less risk because of this . The British government ’s failure to agree a transition deal with the EU has firms fearful that significant customs clearance and other checks will affect supply and result in shortages of food and other important items . Deloitte said appetite for risk is currently “ at recessionary levels ” , with companies increasingly controlling risks . US trade protectionism and weak domestic partnerships are also causing concern .
Surveys by Deloitte and the Institute of Chartered Accountants in England and Wales have found UK businesses and foreign companies’ local subsidiaries are taking less risk because of Brexit. The British government’s failure to agree a transition deal with the EU has firms fearful that significant customs delays and other checks will affect supply and result in shortages of food and other important items. Deloitte said appetite for risk is currently “at recessionary levels”, with companies prioritising controlling costs. US trade protectionism and weak domestic demand are also causing concern.