Investment slumps amid Brexit gloom

Almost a quarter of companies are not investing in their business this year due to Brexit uncertainty, a survey reports. Business leaders have been delaying major decisions until clarity emerges about Britain’s future trading relationship with the European Union. The proportion of companies planning to invest in development has fallen to 33 per cent from 74 per cent six months ago, research by Santander suggests. The figures come after the British Chambers of Commerce warned last month that business investment would sink this year to its lowest level since the financial crisis. The lobby group said that investment would fall by 1 per cent this year, down from a decline of 0.9 per cent last year. It would be the worst performance since 2009, when investment fell by 16.6 per cent.