Business investment in transportation and storage has plummeted by nearly a third in a year as worries over Brexit loom large, analysis by specialist tax consultancy Catax shows.
Total business investment in the sector fell by 29% to £7.82bn in the first three quarters of 2018, down from£11.02bn for the same period in 2017, latest official figures show1.
This is indicative of a wider slowdown in the British economy, with business investment across all sectors growing at the most sluggish rate for six years in 20182.
Overall business investment dropped from £46.9bn to £46.2bn for the fourth consecutive quarter in 2018, the first time that has happened since the economic downturn in 20093.
Uncertainty over future border and travel rules post Brexit is a major worry to the transportation and storage industry which is heavily reliant on the free movement of goods and people between Europe and the UK.
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