£65.5b worth of investments delayed

London

UK businesses have delayed or cancelled investments worth £65.5 billion (S$115.9 billion) since the vote to leave the European Union (EU), with more than 40 per cent of large companies scaling back, according to a new survey.

Executives have been reluctant to follow through on spending plans because of a plunge in the pound and a lack of clarity over the UK's future relationship with the EU, according to the study published on Monday by the Centre for Economics and Business Research (CEBR) and Hitachi Capital UK.