14 November 2018

  |  CBI Press Team

Update

Our response on progress on draft Withdrawal Agreement

The CBI has given its response on Cabinet backing for the draft Withdrawal Agreement as part of the Article 50 process.

Our response on progress on draft Withdrawal Agreement

Carolyn Fairbairn, CBI Director-General, said:

“After 20 months of debate, this agreement by Cabinet is progress. If passed, it moves the UK one step away from the nightmare precipice of no deal and the harm it would cause to communities across the country. Securing a transition period has long been firms’ top priority and every day that passes without one means lost investment and jobs, hitting the most vulnerable hardest. Time is now up. This deal is a compromise, including for business, but it offers that essential transitional period as a step back from the cliff-edge.

"More clarity on the final relationship is needed, and uncertainty remains high, but this is an important step forward. Transition and the backstop are not the intended permanent solutions for either side, but should pave the way for more work on the future deal. This must secure frictionless trade, ambitious access for our world-beating services, and a say over future rules.

“The UK has had many months of discussion and division. A long journey still lies ahead but now is the time for decisions. And the first decision is to avoid no deal.”