European lobby group BusinessEurope has warned that European business is extremely concerned about the continuing uncertainty over Britain’s exit from the EU. Anna Tobin reports
BusinessEurope said that a no-deal Brexit will have dramatic economic consequences and must be avoided and that the postponement of yesterday’s vote on the Withdrawal Agreement is another blow for companies desperate for clarity on the terms of Brexit.
BusinessEurope president Pierre Gattaz said: “The Withdrawal Agreement is vital for business as it includes a transition period with the UK staying in the Customs Union and the Single Market, at least until December 2020. This is the only way to give time to companies to prepare and adjust. With the UK exit date approaching fast, we urge both sides to do their utmost to facilitate the ratification of the Withdrawal Agreement. The aim of business is to get an ambitious and comprehensive framework for the future that ensures as close as possible economic relations between the EU and the UK while preserving the integrity of the single market.”
BusinessEurope also urged that the preparations for a no-deal scenario be stepped up. In a statement, it said: “Politicians on all sides need to live up to their responsibilities and ensure that all the legal and material conditions are in place to mitigate disruption and make the exit the least damaging possible. Among others, this needs to ensure that the supply of food and medicines is not disrupted, transport and key infrastructure operate normally, citizens’ rights are maintained (including residence, working and travelling), data continues to flow, customs remain effective and operational, financial markets remain stable and Irish peace and stability is protected.”