UK business investment on ice until more Brexit progress, warns BCC

With rate rise expected to remain on hold this week, British Chambers of Commerce urges ministers to finalise transitional deal

Britain's biggest businesses are warning the economy will remain in the slow lane, as uncertainty from Brexit puts their investment plans on ice despite progress with Brussels.

The interjection by British Chambers of Commerce comes before a meeting of Bank of England's rate-setting committee this week. The BCC have told ministers they now need to finalise a transitional deal to smooth the Brexit process before firms will increase spending on staff and production capacity, despite the breakthrough last week that moved talks with the rest of the EU on to trade.

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