Brexit fears are holding back manufacturing investment, study finds

Survey of companies finds half are holding back planned investment because of uncertainty over exit from EU

Britain’s manufacturers are putting the brakes on investment plans as uncertainty over Brexit makes them more reluctant to spend money on new factories and machinery, a report reveals.

The amount invested by UK manufacturers in new plant and machinery has slowed to 6.5% of turnover, from 7.5% last year, according to a survey by EEF, the industry trade body, as companies press the pause button until there is further clarity on a Brexit deal.

Related: UK business chiefs unite to demand urgent Brexit transition deal

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