The United Kingdom is scheduled to leave the European Union on March 29, but there’s still no exit agreement in place.
Business lobby groups are still clamoring for clarity on the terms of the divorce and Britain’s future trading relationship with the European Union.
“The United Kingdom has become an island floating on the Atlantic and nobody knows where to go,” he added. “That’s the last thing you want to do to your people and your investors.”
Data published Monday in the United Kingdom show that uncertainty is already causing significant economic problems.
Annual growth fell to 1.4% last year. The last time it was that low was 2012. The final three months of the year were particularly weak, and business investment decreased for a fourth consecutive quarter.
The Dutch government said this weekend that 42 companies have relocated from Britain to the Netherlands over Brexit, resulting in €290 million ($328 million) in new investment.
It’s in talks with another 250 companies about moving.
“If the UK people know what their government got themselves into, maybe they would’ve voted differently,” said Kaeser .”But it’s really hard to find that out.”