The UK’s five leading business groups, representing hundreds of
thousands of businesses across the United Kingdom employing
millions of people, today unite and call on politicians to
prevent a disorderly ‘no-deal’ Brexit on 29th March.
“Businesses have been watching in horror as politicians have
focused on factional disputes rather than practical steps that
business needs to move forward. The lack of progress in
Westminster means that the risk of a ‘no-deal’ Brexit is rising.
Businesses of all sizes are reaching the point of no return, with
many now putting in place contingency plans that are a
significant drain of time and money. Firms are pausing or
diverting investment that should be boosting productivity,
innovation, jobs and pay into stockpiling goods or materials,
diverting cross border trade and moving offices, factories and
therefore jobs and tax revenues out of the UK. While many
companies are actively preparing for a ‘no deal’ scenario, there
are also hundreds of thousands who have yet to start – and cannot
be expected to be ready in such a short space of time.
“All this activity stems from the growing risk of leaving the EU
on 29th March without a deal. With just 100 days to go, the
suggestion that ‘no-deal’ can be ‘managed’ is not a credible
proposition. Businesses would face massive new customs costs and
tariffs. Disruption at ports could destroy carefully built supply
chains. From broadcasters, to insurance brokers, to our financial
services - the UK’s world-leading services sector will be
needlessly disadvantaged, and many professional qualifications
will be unrecognised across the EU. UK and EU nationals working
abroad will be left in deep uncertainty about their future. As a
result of the lack of progress, the Government is understandably
now in a place where it must step up no-deal planning, but it is
clear there is simply not enough time to prevent severe
dislocation and disruption in just 100 days.
“This is not where we should be.
“The responsibility to find a way forward now rests directly with
650 MPs in Parliament. Nobody wants to prolong the
uncertainty, but everyone must remember that businesses and
communities need time to adapt to future changes. As the UK’s
leading business groups, we are asking MPs from all parties to
return to their constituencies over Christmas and talk to their
local business communities. We hope that they will listen and
remember that when they return to Parliament, the future course
of our economy will be in their hands.”
Dr Adam Marshall, Director General, British Chambers
of Commerce
Carolyn Fairbairn, Director General, Confederation of
British Industry
Stephen Phipson CBE, Chief Executive, EEF, the
manufacturers’ organisation
Mike Cherry OBE, National Chairman, Federation of Small
Businesses
, Director General,
Institute of Directors
