UK 'not where it should be' in regard to Brexit, leading business groups warn

21 Dec 2018

Five of the leading business groups in the UK have warned MPs that the UK is 'not where it should be' in regard to its Brexit plans.

The government recently confirmed that it has decided to prioritise preparing for a 'no deal' Brexit, and intends to advise UK businesses to begin implementing their contingency plans.

In a joint letter, the Confederation of British Industry (CBI), the Institute of Directors (IoD), the Federation of Small Businesses (FSB), the British Chambers of Commerce (BCC) and manufacturers' organisation the EEF stated that UK firms have been 'watching in horror' as politicians have focused on 'factional disputes' rather than the practical steps that need to be taken to secure an advantageous Brexit deal.

The letter also said that firms are 'pausing or diverting investment' in order to prepare for a potential no deal Brexit scenario.

The business groups believe that there is 'not enough time' to prevent the 'severe dislocation and disruption' that will come hand-in-hand with a no deal Brexit scenario. They have called for MPs to 'talk to their local business communities' over the festive break in order to help 'find a way forward' when they return to Parliament.