The CBI has set out the impact of a ‘no deal’ Brexit on business, across every region and nation across the United Kingdom.
The analysis of government figures underlines the importance of no deal being taken off the table to prevent economic fallout and protect jobs and living standards.
Following last week’s Brexit vote, where the Prime Minister’s deal was defeated, Theresa May gave a statement in the House of Commons on Monday outlining the government’s next steps on Brexit.
Responding to the vote and the statement, the CBI has been clear that a March no deal must be taken off the table. This was backed up with CBI’s fresh analysis on the long-term economic impact of a ‘no deal’ Brexit which included over 40 real-world case studies of companies in every UK region outlining why no deal would be so damaging for their business. Shared concerns include border delays destroying carefully built supply chains and extra costs and tariffs damaging competitiveness.
While taking a March no deal off the table would provide some much-needed respite for many businesses, it is clear that the Brexit deadlock will only be broken by a genuine attempt by all MPs to find consensus and compromise. Next week will see MPs debate a series of amendments in response to the Prime Minister’s statement on the government next steps on Brexit, including proposals to rule out a March no deal. Those amendments selected by the speaker on Tuesday 29thJanuary will be voted on by MPs later that evening. Following the vote, the CBI will be consulting its Chairs Committee on Wednesday to help inform next steps.
Source: PES Media