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  HOME | Business & Economy (Click here for more)

British Business Groups Warn 100 Days Not Enough to Plan for No-Deal Brexit

LONDON – British business groups criticized lawmakers on Wednesday for focusing on disputes and said a no-deal Brexit scenario in 100 days’ time would be catastrophic for the economy.

The British Chambers of Commerce, Confederation of British Industry, Manufacturers’ Organisation, Federation of Small Businesses and Institute of Directors said on Wednesday the risk of a no-deal Brexit was already having a negative impact on businesses and the economy, and that the need to put contingency plans in place for an exit from the European Union without a deal were a drain on resources and time.

“With just 100 days to go, the suggestion that ‘no-deal’ can be ‘managed’ is not a credible proposition,” the joint statement said.

“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,” the statement added.

The business groups urged members of Parliament to listen to their communities and businesses over the Christmas period and reminded them the future of the British economy would be “in their hands.”

Theresa May’s government – whose parliamentary conservative minority is propped up by a regional Northern Irish party, the hardline DUP – is under increasing pressure to ensure the UK does not leave the EU without a deal.

May delayed a crucial parliamentary vote on her withdrawal deal last week as it faced almost certain defeat in the House of Commons, the lower chamber of UK lawmaking.

The head of the European Commission, Jean Claude Junker, said the withdrawal deal on Brexit was final and could not be renegotiated.

The final vote on the agreement regarding the country’s withdrawal from the EU is set to take place in the third week of January.

 

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