80% of CFOs say UK businesses will be worse off post-Brexit

Corporates positioned for hardest of Brexits

Almost 80% of chief financial officers (CFOs) believe the UK's long-term business environment will be worse after it exits the EU, according to Deloitte's latest survey.

The report describes an environment where CFOs of businesses across the market-cap spectrum are tightening their plans for spending, recruitment and new product development as they brace for "the hardest of Brexits". The quarterly survey, which spoke to 110 CFOs in January representing the FTSE 100 and FTSE 250, other listed and large private companies and UK subsidiaries of companies listed overseas, revealed a greater focus on cost reduction than any time in the past nine years. Brexit Blog: Barclays to move £166bn to Dublin amid Brexit fears Nearly half of CFOs (49%) said capex ...