May moves economy away from cliff edge

The general election has fuelled hopes in boardrooms that Britain will avoid a chaotic break with Brussels
Investors are wagering that an election victory will remove the pressure on Theresa May to finalise the terms of the EU divorce in 2019
Investors are wagering that an election victory will remove the pressure on Theresa May to finalise the terms of the EU divorce in 2019
LEON NEAL/GETTY

Andrew Varga was in his office last Tuesday morning poring over his company’s export figures when a news alert popped up on his phone: Theresa May had called a general election. “My heart sank,” said Varga, managing director of Seetru, a specialist industrial valves maker.

“I was already worried about what’s coming next. Now there’s even more uncertainty, and uncertainty means our customers don’t spend,” said Varga, 57, who is based in Bristol.

There has been little sign of that so far: like companies up and down the country, Seetru has shrugged off the prospect of Brexit. It made a strong start to the year, Varga said, largely because of export orders.

The fall in the pound has helped the manufacturer take advantage of booming