Hung Parliament May Be 'Disaster' for U.K., Businesses Warn
- Pessimism in U.K. economy exceeds level after Brexit vote
- Almost all businesses worried about make-up of new government
The U.K.'s 'Hung Parliament' and What it Means for Brexit
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Business optimism in the U.K. economy plunged after Theresa May’s Conservative Party lost its majority in Parliament, less than two weeks before talks start on exiting the European Union.
A survey of business leaders conducted over the weekend showed 57 percent are pessimistic about the prospects of Britain’s economy over the next year, according to the Institute of Directors. That’s higher than when Britain voted in June last year to leave the EU and 43 percent of the executives were pessimistic, the business group said.