UK tech companies are fairly unanimous in agreeing that the vote to leave the EU has been bad for them. This article in The Register identifies several who have changed their investment plans, thanks to all the little Brexiteers who pretended they knew what they were doing when they signed their name in the “Leave” box last month.
Memset [hosting company], which was planning UK expansion, is now considering the US and continental Europe.
Comtek [telecoms equipment manufacturer]… canned the move of a research team of 25 people from Northern Ireland to north-east Wales and may instead shift them to the Republic of Ireland.
Fantastic Services [app-based domestic services] has moved investment from the UK to Australia and increased its focus on online booking – the latter through its tech team in EU member Bulgaria.
Many others are watching what happens carefully. But not to worry, because everything is going to be ALL RIGHT.
The BBC reported last week that Brexit has caused a massive drop in the UK economy. It’s the lowest it has been since early 2009 (the “Great Recession”).
The only other times we have seen this index fall to these low levels, was the global financial crisis in 2008/9, the bursting of the dot com bubble, and the 1998 Asian financial crisis.”
The difference this time is that it is entirely home-grown, which suggest the impact could be greater on the UK economy than before.
Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the figures provided the “first major evidence that the UK is entering a sharp downturn”.
But remember: everything is going to be ALL RIGHT. No, it will. That guy from the soup kitchen in Blackpool said so.