U.K.'s Hammond Warns No-Deal Brexit Holds Large Fiscal Consequences

The video discusses the impact of Brexit on various sectors, focusing on technical papers aimed at helping British businesses. It highlights government measures in financial services and pharmaceuticals, while noting challenges in goods trade and haulage. The discussion includes government forecasts and the practical focus of businesses. The impact on small and medium enterprises is also covered, emphasizing the need for contingency planning and the challenges they face in preparing for Brexit.

What sectors did the government show commitment to mitigating the impact of a no-deal Brexit?

• Technology and education

• Automotive and textiles

• Financial services and pharmaceuticals

• Agriculture and fisheries

What is a significant concern for haulage companies in the event of a hard Brexit?

• Increased toll charges

• High fuel costs

• Insufficient exercise agents

• Lack of drivers

What are most businesses focusing on instead of GDP forecasts?

• Technical notices and practical information

• Marketing strategies

• Employee training programs

• International expansion plans

What percentage of SMEs have done active contingency planning for Brexit?

• Almost all

• More than 2/3

• Less than 1/3

• About half

What is the main reason SMEs are not prepared for Brexit?

• Overwhelmed by daily operations

• Lack of interest

• Sufficient government support

• Confidence in a favorable deal