Bank preparing for ‘no-deal’ scenario, says Midlands finance expert

Barclays says it is preparing for a ‘no-deal’ Brexit that will ensure minimum disruption for its Midlands customers.

That was the message from Barclays Corporate’s Midlands managing director Ray O’Donoghue who as speaking to an audience of Lincolnshire business owners last week at Washingborough Hall, just outside of Lincoln.

“Our customers’ contigency plans have been actioned,” he said, “and they can’t go back. Like our customers, we’ve been busy running through the many scenarios to make sue there is a little disruption for them as possible. There are new entrants across the banking market and it’s the most competitive I’ve ever known the sector – my hope is that the industry doesn’t suffer from a short memory and keeps lending sensible.”

Meanwhile, Simon Craddock who runs leisure venues throughout Lincoln and Lincolnshire – including bowling alley Lincoln Bowl and Bainland Country Park, said: “Brexit is pointless – what a complete waste of time, but we’ll be fine. What really scares me at the moment is Jeremy Corbyn and the people behind him. Austerity has had a huge impact in the way people feel. There is a general sense that a few people got away with a lot, but Labour terrify me.”

For Angela Parr, finance director at Regen Holdings, Lincoln was in a good place to deal with any challenges Brexit brings along. She said: “I first moved to Lincolnshire from Yorkshire some years ago, and I really did think the county had been left behind. However, the university has changed that. The city and wider area now is a lot more cosmopolitan and Lincolnshire has caught up with the rest of the UK. It now has a chance of attracting the skills it needs over the coming years.”