Brexit, NAFTA making firms wary about investment: Canada finance minister

LONDON (Reuters) – There are some parallels between the way companies in North America and Britain are holding back on investment as they wait for clarity on the re-negotiation of NAFTA and the outcome of talks on a Brexit deal, Canada’s finance minister said on Monday.

“Certainly anecdotally in North America there are some businesses that are being cautious about investments because there is an expectation that NAFTA could be slightly different tomorrow than it was yesterday,” Bill Morneau said in a speech in London.

“I just assume that is a similar situation here. Hopefully (that’s) one to be overcome as more clarity comes out.”

Morneau reiterated that he hopes Canada will have at least as good a trade arrangement with Britain after Brexit as now, taking the country’s current CETA deal with the EU as a model.

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