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<p>Her Majesty’s Government continues to monitor the effects of Brexit uncertainty
on exchange rate volatility. Recent financial market movements have been driven by
a combination of global events as well as domestic developments.</p><p> </p><p>Overall,
uncertainty is a key concern of businesses, including those in the manufacturing sector,
as evidenced in recent manufacturing focussed business surveys. Furthermore, the Agent’s
survey on EU withdrawal preparation from the Bank of England recorded that around
35% of respondents in manufacturing had already made some change to their business
plans since the referendum with a further 25-30% expecting to adjust their business
plans by end-March 2019.</p><p> </p><p>Delivering the settlement negotiated with the
EU remains our top priority. The Government will continue to take steps to provide
businesses with information for a range of scenarios. These include HMRC publishing
a ‘Partnership Pack’ to help businesses prepare for changes at the UK border and the
publication of 106 technical notices to help businesses prepare for a ‘no deal’ scenario.
The Government has also launched a public information campaign to ensure that citizens
and businesses are well informed about how Brexit will affect them and the practical
steps they will need to take.</p>
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