US Chamber sounds £487bn alarm, for a year we warned about Brexit costing UK Single Market access

The Guardian has the story of how the US Chamber of Commerce warns the UK Government that losing access to the Single Market would be expensive costing £487 Bn in inbound investment.

Key notes from the report:

  • The United Kingdom is a critical economic partner for the United States, and the US should ensure that bilateral ties are strengthened, rather than disrupted, by Brexit. But America’s significant commercial and financial presence in the UK has been premised in large part on UK membership in the European Union – the largest, wealthiest and most important foreign market in the world to US companies.
  • For decades, the UK has served as a strategic gateway to the European Union for US firms and financial institutions. The primary motivation of many US companies to invest in the UK has not been to serve only the UK market but to gain access to the much bigger EU single market.

 

Denis G Campbell View more

Denis G Campbell
Denis G. Campbell is founder and editor of UK Progressive magazine and co-host of The Three Muckrakers podcast. He is the author of 7 books and provides Americas, EU and Middle Eastern commentary to the BBC, itv, Al Jazeera English, CNN, CRI, MSNBC and others. He is CEO of Monknash Media and a principal with B2E Consulting in London. You can follow him on Twitter @UKProgressive and on Facebook.

Leave a Comment