Home Brexit The clock is ticking closer to Brexit withdrawal as uncertainty grows for British businesses

The clock is ticking closer to Brexit withdrawal as uncertainty grows for British businesses

by LLB Reporter
30th Jan 19 10:20 am

Despite Theresa May’s win in Parliament last night, there is still enormous uncertainty for British businessess over the Uks departure from the EU.

Commenting on the latest votes in Parliament on Brexit, Dr Adam Marshall, director general of the British Chambers of Commerce (BCC) said, “Another day lost while the clock is ticking. Government and parliament are still going around in circles when businesses and the public urgently need answers.

“The real-world result of Westminster’s interminable wrangling is market uncertainty, stockpiling, and the diversion of staff, money and investment.

“For every big-ticket business announcing high-profile Brexit-related decisions, there are many more quietly making the changes they need in order to safeguard their operations in the event of a disorderly Brexit. The net result of this displacement activity and uncertainty is slow but very real damage to the UK economy.

“A messy and disorderly Brexit on 29 March would cause widespread damage to businesses and communities across the country. Neither Government nor many businesses are ready for a no-deal exit in two months’ time, and it must not be allowed to happen by default.”

Carolyn Fairbairn, CBI director general said in a statement Tuesday evening, “This is another deeply frustrating day for British business. The never-ending parliamentary process limps on while the economic impact of no deal planning accelerates.

“The Brady amendment feels like a throw-of-the-dice. It won’t be worth the paper it is written on if it cannot be negotiated with the EU. Any renegotiation must happen quickly – succeed or fail fast.

“Firms will welcome confirmation that a majority of MPs oppose a no deal outcome. But rejecting a no deal doesn’t get a deal. Until MPs can agree a solution, delay will do nothing to lift the threat of an economic cliff edge that is draining money from the UK.”

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