15 August 2018

Update

Prosperity ahead of dogma

CBI, Deputy Director-General, Josh Hardie, writes in the Telegraph about UK & EU leaders needing to put prosperity ahead of dogma if we're to avoid a catastrophic no deal.

Prosperity ahead of dogma

In recent weeks there has been more talk about what a no deal would mean for the UK and the EU. Since the 23 June 2016, the possibility of the UK leaving the EU without a deal has been a risk, but policymakers must be in no doubt of how serious the consequences of no deal would be for both the UK and the EU. A no deal on the UK and EU would impact economies and jobs across the continent.

Read No deal and the EU

This week in the Telegraph, CBI, Deputy Director-General, Josh Hardie, reiterated this, highlighting the need for leaders on both sides to put prosperity ahead of dogma if we're to avoid a catastrophic no deal.

Read Josh Hardie’s Telegraph article

He went on to emphasise that while firms welcome the pragmatic steps forward set out in the UK government’s Brexit plans, businesses across all of Europe now desperately want to see a true spirit of compromise from both sides. Drawing on the insight from his conversations with members, Josh stressed the practical implications of a no deal with the reality of what a no deal means is dawning for more and more businesses every day. Many are already implementing contingency plans – shifting supply chains, moving jobs and raising prices, which is millions of pounds that could be better spent investing in their businesses.

Josh also stated the UK must be pragmatic and compromise, but said we also need more urgency and greater flexibility now from Europe’s leaders especially on the Withdrawal Agreement that resolves the unique challenges Northern Ireland faces. Further to this, Josh said there is a need to put pen to paper on a jobs-first transition period to provide breathing space and more certainty for businesses of all sizes, in all European countries. A model that puts people’s livelihoods before ideology.

In the coming weeks and months, the CBI will continue to put evidence before politics. From speaking with businesses across the UK, the CBI has released analysis on no deal and help the both sides to understand why negotiators must do all they can to agree transitional arrangements as part of the Withdrawal Agreement as soon as possible.

Read No deal: The facts: an analysis of what no deal would mean for UK businesses and the UK economy

For more information, insight and intelligence on the latest Brexit developments and its implications, visit the CBI’s Brexit hub, or contact EUNegotiations@cbi.org.uk.