US companies reviewing $600bn UK investment on Brexit fears

Dismiss low costs as 'nonsense'

US companies are reportedly reviewing the future of almost $600bn worth of UK investments due to concerns Britain will have restricted access to the EU single market in the wake of June's Brexit vote.

The FT reports that in a document to be presented to the UK's Cabinet Office this week, the US Chamber of Commerce warns a post-Brexit UK would need "unfettered access" to the European goods and services market for American companies to continue expansion plans. The Chamber added that another priority for US businesses was the retention of passporting rights for UK-based financial services firms, which allow products to be sold into the EU. It said losing this right will force American companies based in the UK to shoulder the burden of significant additional cost. Have Brexit blues h...