U.K. Businesses Put Probability of Brexit Deal in 2020 Below 50%

(Bloomberg) -- U.K. businesses see a 46% probability that the country will leave the European Union with a deal next year, according to a Bank of England survey.

While the figure increased after the government requested an extension to the end of January, it reflects the lack of clarity firms are still facing more than three years since the vote to leave. The 2,987 companies in the central bank's November Decision Maker Panel put a 16% chance on a departure without an agreement in 2020. Almost one in five now see Brexit occurring in 2021 and 12% say it will never happen.

Uncertainty related to the departure remained elevated, the survey published Thursday said. The proportion of respondents that expect that uncertainty to be resolved next year rose to 57%, with 34% saying it won't abate until at least 2021.

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Zoe Schneeweiss, Brendan Murray

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