The British economy is facing a slowdown on the back of "Brixt" political crisis

The British economy is facing a slowdown on the back of "Brixt" political crisis



LONDON (AFP) -

British Industrialists Union warned Tuesday of the slowdown in the British economy in the coming years due to the political crisis experienced by the country and the repercussions of Brixt, the day after the start of Britain's exit from the European Union negotiations.

According to recent forecasts of the Union, the British economy will record a growth of 1.6 percent this year, before this rate down to 1.4 percent in 2018.

The British economy stood at 1.8 percent growth rate in 2016.

He said the British Industrialists Union, the largest gathering of British employers, the British elections, a clear majority was not produced in the House of Representatives to the list of reasons leading to the slowdown.

The federation said in a statement that "the economy is facing headwinds, because of the political situation is unstable as negotiations Brixt, which requires the government and business sector cautious leadership."

The final forecasts for growth better than the previous figures.

The previous forecast to grow by 1.3 percent for the year 2017 and by 1.1 percent for the year 2018.

- a slowing economy -

It declared the Director-General of the Union of British Industrialists Caroline Verbrn "must maintain the stability of growth, over the next few years, which will slow down the pace of the economy."

She stressed that the British Freibrn export sector must play the role of the real catalyst for growth, noting that the high rate of inflation and strong growth, slow wages mean that people are already starting to feel the pressure.

She Verbrn "So, after a disturbance stage at Westminster, it's time to focus again on the economic fundamentals of the country."

Britain and the European Union began formal negotiations Brixt Monday in Brussels, pledging to work constructively in order to reach an agreement despite the controversy in London on the adoption of an approach "harsh" or "flexible" for divorce.

She stressed British Prime Minister Theresa May repeatedly that Britain will emerge from the customs and unity and a common European market in order to limit immigration to Britain from the territory of the European Union, a spokeswoman for Brixt "harsh."

And May have become weaker in the position after failing to retain a majority in early parliamentary elections called for it to strengthen its position in Brixt negotiations.

In a letter Monday to Economy Minister Greg Clark five major bodies of the British business sector called for maintaining access to the common European market until agreement is reached on Brixt.

Groups including the British Union of Industrialists and British Chambers of Commerce, and the Federation of Engineering companies, and the Federation of Small Businesses and the Institute of Directors, and called on the government to give the economy a priority.

- The British economy "is the axis" -

Said Verbrn Monday: "We have an opportunity to bring back the British economy to its pivotal."

We Verbrn "We see that there was not enough focus on the economy in recent months."

She continued, "things that we hear from different parties the importance of the economy now, the impact on people's lives, because this is what will make a difference on the level of productivity, equity and living standards."

She added, "So ... we hope to be so Hakiq on those negotiations effect."

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