The Guardian has the story of how the US Chamber of Commerce warns the UK Government that losing access to the Single Market would be expensive costing £487 Bn in inbound investment.
Key notes from the report:
- The United Kingdom is a critical economic partner for the United States, and the US should ensure that bilateral ties are strengthened, rather than disrupted, by Brexit. But America’s significant commercial and financial presence in the UK has been premised in large part on UK membership in the European Union – the largest, wealthiest and most important foreign market in the world to US companies.
- For decades, the UK has served as a strategic gateway to the European Union for US firms and financial institutions. The primary motivation of many US companies to invest in the UK has not been to serve only the UK market but to gain access to the much bigger EU single market.