Brexit effect on UK economy may be worse than thought, says CBI

Survey finds majority of factory owners have cut investment, as insolvencies hit six-year highLatest Brexit news – live updatesA wave of corporate insolvencies, company profit warnings and a gloomy forecast of manufacturing investment over the next year has sparked concerns that Brexit uncertainty will weigh on the UK economy more than previously estimated.A survey by the business lobby group the Confederation of British Industry (CBI) found that the prospect of leaving the EU’s cust