Managing Brexit: risk and opportunity

Managing Brexit

British business is entering a new era. Companies are concerned and need time to assess the implications. Businesses will adapt to the new landscape, but KPMG is here to work with you, preparing for any scenario and providing support in the months ahead.

Vice Chairman KPMG UK and Partner Corporate Finance, Debt Advisory

KPMG LLP (UK)

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Referendum webcast: listen again

Referendum webcast: listen again

Hear our experts' view on how Brexit will affect issues including funding, supply chain, tax and tariffs, and workforce.

Visit our EU Referendum Forum

Visit our EU Referendum Forum

Access KPMG expertise in areas such as financial services, risk, people and migration, and tax and tariffs.

Giles Williams

Financial Services: Giles Williams

Financial Services: Giles Williams

Financial Services Partner at KPMG in the UK

 
More about Giles

“The leave vote will send a shudder through the financial services industry. The sector now needs to step forward and tell the government exactly what it needs from negotiations with the EU.” 

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Real Estate: Andy Pyle

Real Estate: Andy Pyle

Head of Real Estate, KPMG in the UK

"We would expect UK companies’ appetite for new leases and liabilities to diminish, leading to a general dip in occupier demand – particularly in the City. That said, should sterling go into tailspin, investors playing the long game are more likely to jump on what could be a once-in-a-lifetime opportunity. Given the traditional strength of the UK property market, it’s likely to be seen as a relatively safe bet, despite currency turmoil.”

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Macroeconomics: Yael Selfin

Macroeconomics: Yael Selfin

Head of Macroeconomics, KPMG in the UK

“The Brexit vote will see the UK economy navigating extremely turbulent waters over the coming months. In the short term, the thick fog of uncertainty will make it hard for businesses to plan beyond the immediate horizon. Businesses need to reassess priorities and adjust for fresh realities in terms of new tariffs and other trade restrictions, pressures on wages and labour availability, and a deterioration in public finances.” 

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Pensions: Stewart Hastie

Pensions: Stewart Hastie

Pensions Partner, KPMG in the UK

"The U.K.'s 6,000 private sector DB schemes covering £1.6 trillion of pensions obligations will be in for a rough ride - hit with the prospect of higher inflation, and an expected fall off in pension asset values over the next couple of years. Four out of five schemes were already underfunded. UK businesses will be under pressure to divert cash to shore up historic pension liabilities.”

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Leisure: Will Hawkley

Leisure: Will Hawkley

Head of Leisure, KPMG in the UK

“There vast numbers of EU nationals working in the hospitality sector. EU supplier and commercial contracts will need to be reviewed, and foreign visitor numbers will also be a concern for the industry. On an economic level, it’s fair to predict the result will probably impact consumer confidence, driving down discretionary spend in the short to medium term."

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Housing: Jan Crosby

Housing: Jan Crosby

Head of Housing, KPMG in the UK

“It’s very likely people will put big decisions like house purchases on hold. We can expect things to stay deflated for some time – perhaps until next spring. There will be a tale of two economies when it comes to prices. Outside central London, we don't expect to see material price discounting. But in central London, the softening that has already occurred will continue."

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Local Government: Joanna Killian

Local Government: Joanna Killian

Head of Local Government, KPMG in the UK

“A downturn in the financial markets would put further pressure on hard-pressed local authority finances and pension deficits. Restrictions on labour movement could hit social care services and the workforce needed to deliver major programmes too."

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Technology: Tudor Aw

Technology: Tudor Aw

Head of Technology, KPMG in the UK

“The things that make the UK tech sector so strong and attractive remain in place. I see it not only withstanding this result, but continuing to grow and thrive.”

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Manufacturing: Stephen Cooper

Manufacturing: Stephen Cooper

Head of Industrial Manufacturing, KPMG in the UK

“Industrial manufacturers have three obvious challenges: understanding what the supply chain looks like beyond their big suppliers; considering how to retain non-UK talent and develop more at home; and investment. Whether manufacturers choose to locate or develop their operations in the UK will probably depend on the shape of negotiations with Europe, but government action will be important to ensure we remain attractive.”

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Brexit: Planning for all eventualities

Brexit: Planning for all eventualities

If you knew the UK would vote out, what would you do today?

Brexit in the Boardroom - the role of Internal Audit

Brexit in the Boardroom - the role of Internal Audit

This paper addresses potential implications and issues that organisations ought to consider and examines the role of Internal Audit.

EU referendum: Key questions audit committees should ask

EU referendum: Key questions audit committees should ask

As the EU referendum draws near, many organisations are reflecting on their level of preparedness should there be a 'leave' vote.

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