Responding to today’s announcement of a political commitment to a
transition period, Allie Renison, Head of Europe & Trade
Policy at the Institute of Directors, said:
“Business leaders will welcome the announcement of a provisional
agreement on an implementation period and congratulate the UK
Government for heeding the call of business and making it a
priority early on. Knowing that trade and immigration
arrangements will continue unchanged until at least the end of
2020 will allow business operations and investment decisions to
carry on without unnecessary disruption for the time being.
“We hope that the EU summit this week will not be seen as an
opportunity for political leaders to muddy the waters of this
deal as agreement on transition is vital for businesses across
Europe.
“We are, however, concerned that not enough attention is being
given now to the finer details and practical implications of
transition. Many businesses will only be able to sufficiently
plan and prepare for Brexit once the precise details of the
future relationship are known, and any changes to domestic
infrastructure like customs have been implemented. is therefore right to say we
must progress immediately on to substantive trade negotiations
without further delay. With that said, both sides should commit
now to a finite adjustment period once a new trade agreement has
been finalised, as is the case for most trade deals.”
