Companies will hit the red button on Brexit contingency plans by Christmas if there is not a clear outcome from negotiations, according to research by the Confederation of British Industry. More than two thirds of large and smaller firms said they will implement Brexit contingency plans by December, while a fifth said that the deadline for triggering their emergency efforts had already passed. Carolyn Fairbairn, director-general of the CBI, said that “the speed of negotiations is being outpaced by the reality firms are facing on the ground”. “Jobs will be lost and supply chains moved,” Ms Fairbairn said, if there was not a withdrawal agreement in place by December. Some 80pc of firms also said that political uncertainty had reduced business investment, up from 36pc in October 2017. Two thirds of companies said that Brexit had made the UK a less attractive destination for investors, though separately sectors have reported differing levels of Brexit impact. Last week, Amazon announced plans to expand further in the UK, creating 1,000 skilled jobs. UK Trade Secretary Liam Fox hailed the move as a “signal to the world that the UK is very much open for business”. In May, Tech Nation, a partly government-funded body, reported a doubling in investment in British tech firms last year. However, in June, the Society of Motor Manufacturers and Traders reported investment by major carmakers in the UK had nearly halved in the first six months of this year.