BREXIT 'AIRBAGS' BEING TESTED BY BUSINESS WITH 40 DAYS TO EXIT DAY - KPMG

Dealers work at their desks whilst screens show market data following a vote on Prime Minister Theresa May's Brexit 'plan B' at CMC Markets in London, Britain, January 30, 2019.

LONDON (Reuters) - With just 40 days until the United Kingdom is due to leave the European Union, businesses are testing their emergency Brexit preparations to ensure they have enough cash and staff in the event of a disorderly exit, KPMG said.

Unless Prime Minister Theresa May can get a Brexit deal approved by the British parliament, she will have to decide whether to delay Brexit or thrust the world’s fifth largest economy into chaos by leaving without a deal on March 29.

“Businesses are now testing the airbags on their Brexit preparations,” said James Stewart, head of Brexit at KPMG UK.

“Time is a luxury we no longer have, so people are bracing themselves for the immediate potential impacts.”

“After a slew of poor economic data, and Brexit uncertainty stretching a long way beyond the point most people had anticipated, the mood of business is darkening,” Stewart said.

Unless there is a deal or a delay, the United Kingdom will leave the EU without a transition period abruptly at 2300 GMT on March 29, a step that is almost certain to disrupt trade and spook financial markets.

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