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Business groups respond to outcome of vote on Brexit deal

Business groups have responded to the outcome of the vote on Prime Minister Theresa May’s Brexit deal.

The Confederation of British Industry (CBI) warned that ‘no deal’ is ‘hurtling closer’. Carolyn Fairbairn, Director General of the CBI, said: ‘A new plan is needed immediately. This is now a time for our politicians to make history as leaders. All MPs need to reflect on the need for compromise, and to act at speed to protect the UK’s economy.’

Meanwhile, the Federation of Small Businesses (FSB) urged MPs to ‘work together to end the Brexit impasse’. ‘The UK is due to leave the EU in just ten weeks, and yet businesses still have no idea what kind of circumstances they should prepare for,’ said Mike Cherry, National Chairman of the FSB.

‘Many small businesses would be adversely impacted by a chaotic no deal exit. It is vital that there is a transition period, to give smaller firms time to adapt to whatever the final outcome turns out to be.’

The British Chambers of Commerce (BCC) stated that businesses now find themselves ‘facing the unwelcome prospect of a messy and disorderly exit from the EU’ on 29 March. It continued: ‘The overriding priority for both government and Parliament must now be to avoid the clear danger that a no deal exit on 29 March would pose to businesses and communities across the UK.’

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