How UK VCs are managing the risk of a ‘no deal’ Brexit

Grab your economic zombie mask: A Halloween “no deal” Brexit is careening into view. New prime minister Boris Johnson has pledged that the country will leave the European Union on October 31 with or without a deal — “do or die” as he put it. A year earlier as the foreign secretary, he used an even more colorful phrase to skewer diplomatic concern about the impact of a hard Brexit on business — reportedly condensing his position to a pithy expletive: “Fuck business.”

It was only a few years ago during the summer of 2016, following the shock result of the UK’s in/out EU referendum, the government’s aspiration was to leave in a “smooth and orderly” manner as the prelude to a “close and special” future trading partnership, as then PM Theresa May put it. A withdrawal deal was negotiated but repeatedly rejected by parliament. The PM herself was next to be despatched.

Now, here we are. The U.K. has arrived at a political impasse in which the nation is coasting toward a Brexit cliff edge. We’re at the brink here, with domestic politics turned upside down, because “no deal” is the only leverage left for “do or die” brexiteers that

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