Andrew Gray, Head of Brexit at PwC, has given a partial welcome to the possibility of extending the Brexit transition period.
He says, "While business would like certainty sooner, it is clearly in everyone's interests to make sure that we get the right deal for the UK. We continue to believe that a deal is more likely than not, although we are advising businesses to plan now for both a deal and no deal outcome. We are already seeing a lot more activity by business to urgently prepare for the potential of a no deal.
"Prolonged uncertainty is unhelpful for business however, we know that many have underestimated the time it takes to change their model to adapt to Brexit changes. Therefore a longer transition is helpful to businesses as it gives them time to optimise and implement Brexit plans."