12 April 2018

News

Westminster Update

Despite the Easter break and Westminster recess, the CBI’s political engagement continues apace, including meeting several key stakeholders and attending the B7 event in Canada.

Westminster Update

CBI Director-General, Carolyn Fairbairn, met with the UK’s former EU Commissioner Lord Hill, who was responsible for financial services across the bloc until 2016. Coming just a week after March’s European Council, Carolyn welcomed the progress made on agreeing a transitional period. However, Carolyn made the point that financial service firms in the UK and EU are still seeking reassurances from regulators that they can rely on the transition as part of their contingency planning. The CBI recently published a paper setting out the 5 steps for negotiators to protect services trade through Brexit.

Elsewhere, CBI Scotland members attended the CBI’s Dover House reception, sponsored by Scottish Power, with Scottish Minister Lord Duncan addressing the group. As part of the reception, CBI Scotland Director Tracy Black met with Scottish Secretary David Mundell MP, where they discussed the country’s business environment, immigration and CBI Scotland’s regional growth report Pursuing prosperity.

Finally, Carolyn and CBI President Paul Drechsler attended the B7 Summit in Quebec City, where the CBI led a UK delegation that joined business leaders from the G7 nations. The B7 plays a role of interlocutor between business and policy makers in the lead up to the G7 Summit. The Canadian Chamber of Commerce hosted the event, and brought together a strong programme featuring the Canadian Prime Minister, the Minister for International Trade and the Minister for Finance. The business group agreed on three essential areas it believes could be beneficial for the G7 to address in June: inclusive growth, resource efficiency, and support for scaling up small business.  

For more information please contact peter.mcmanus@cbi.org.uk.