The vast majority of British firms are poised to implement their Brexit contingency plans by Christmas if there isn't greater clarity over the country's exit from the European Union, a leading business group warned Sunday. The Confederation of British Industry said these plans could include cutting jobs, adjusting supply chains outside the U.K., stockpiling goods and relocating production and services overseas. December is now the next scheduled EU summit, leaving the Brexit process tight ahead of Britain's official departure date on March 29. "Unless a Withdrawal Agreement is locked down by December, firms will press the button on their contingency plans," said Fairbairn. The survey found that 82 percent of firms will have started to implement contingency plans by December if the Brexit process isn't any clearer.

Source: ABC News October 21, 2018 12:22 UTC