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A veteran French politician, Michel Barnier, has been put in charge of Brexit talks.
The former EU commissioner and French cabinet minister will lead exit negotiations with UK.
Jean-Claude Juncker, President of the European commission, said he had wanted an experienced politician for an “important and challenging job” as he announced the appointment of Michel Barnier. He said Barnier would “help us develop a new partnership with the UK.”
Barnier is an experienced Brussels insider who is a member of France’s centre-right Les Républicains (formerly UMP) party, and will take up his post on 1 October.
He said in a tweet he was “honoured to be entrusted” with such a demanding task.
The latest BCM results for Q3 (to the end of June) show Brexit was clearly a blow to confidence with only a modest rebound.
However, it’s worth noting that confidence had been declining already (Q1 to Q2 down 10.6 points, Q2 to Q3 down 11.0 points).
More companies are ‘less confident’ than ‘more confident’ for the first time since Q1 2012.
For more on the main takeaways from the latest results see the analysis from ICAEW and Oxford Economics here.