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30% of companies would leave UK after Brexit

Staff writer |
Nearly a third of British and German companies would consider moving jobs out of the UK, or leave the country entirely, if it decided to leave the European Union.

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The survey of 700 British and Germans firms found that 29% said they would reduce capacity or relocate completely in the event of a Brexit.

IT and technology companies will be the most likely to pack their bags and jump on a plane if the UK votes for independence from the EU, with 41% indicating they would do so. But around a quarter (26%) of those in the manufacturing sector said they would consider reducing capacity.

Tellingly, just 13% of all respondents said they believe a Brexit would increase employment in the UK. And only 21% said that the UK should leave the Union.

The survey highlighted some already well-known concerns about the UK’s membership in the EU, including regulation (34%), and the euro (22%). However, it appears these are stronger concerns for British companies (37%) than German ones (32%).

Separately, HSBC said it could move 1,000 jobs from London to Paris if the UK decided to leave the Union.