Mark Sismey - Durrant , CEO at Hampshire Trust Bank , stated in reports yesterday that the UK ’s small to medium enterprises ( SMEs ) are stockpiling cash of more than £ 230,000 on average in current accounts , in order to mitigate risks from a volatile economy , should the UK decide to leave the EU in a “ Brexit . ” By the end of 2017 , Britons will cast their doubts on whether the UK should remain a part of the EU or separate from it . James Knightley , Senior Economist at ING , warned that the UK could face several years of uncertainty anyway , which may lead to a reduction in foreign investors , downward pressure on investors , and a cautious approach by the Bank of finance to raising interest rates . UK GDP growth in 2017 could also be half a point down , whilst the impact on businesses is hard to quantify at the moment . On the other hand , if the UK negotiates a stronger deal with the EU and stays in , growth of GDP in 2018 is a possibility , Mr Knightley has suggested .
Mark Sismey-Durrant, CEO at Hampshire Trust Bank, stated in reports yesterday that the UK’s small to medium enterprises (SMEs) are stockpiling cash of more than £230,000 on average in current accounts, in order to mitigate risks from a volatile economy, should the UK decide to leave the EU in a “Brexit.” By the end of 2017, Britons will cast their votes on whether the UK should remain a part of the EU or separate from it. James Knightley, Senior Economist at ING, warned that the UK could face two years of uncertainty anyway, which may lead to a reduction in foreign investors, downward pressure on sterling, and a cautious approach by the Bank of England to raising interest rates. UK GDP growth in 2017 could also be half a point down, whilst the impact on businesses is hard to quantify at the moment. On the other hand, if the UK negotiates a stronger deal with the EU and stays in, growth of 3.5%+ in 2018 is a possibility, Mr Knightley has suggested.