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EU and international briefing

As the General Election approaches, the CBI looks at what each party manifesto will mean for your business and the UK's position with the EU.

03 Dec 2019, 3 min read

There are just nine days to go until the General Election and we now have the manifestos from all main political parties. While the CBI has been busy analysing what each manifesto will mean for business, one thing is clear – Brexit will play a key role in determining the outcome of this election.

Ahead of the new Prime Minister taking office, the CBI published its manifesto, Programme for Prosperity, setting out the priorities for the next government. The manifesto calls for action to address day-to-day business concerns in order to lift productivity and living standards across the country, from raising UK R&D expenditure to tackling long-term challenges on skills. But these bold ambitions can only be met if supported by a comprehensive EU trade agreement - one that keeps the UK aligned with EU rules where essential for frictionless trade along with protecting the UK’s world-beating services sector.

The CBI’s latest economic forecast shows that, if the UK were to leave the EU by January 31 2020 and has a clear line of sight to an ambitious trade deal, the economy could pick up speed: with GDP growth picking up from 1.2% in 2020 to 1.8% in 2021. In contrast, if the country faces a prolonged period of uncertainty over Brexit next year followed by a no-deal the following year, growth could be just 0.4% in 2021 (from 1.0% in 2020), with increased barriers to trade, financial market volatility, and hits to business investment and consumer spending.

A good deal with the EU must be go hand in hand with continued access to global trade. But trade deals can’t be an end in themselves. Any new global trade deals need to be aligned with a close relationship with the EU. The next government must therefore focus on achieving an ambitious trade deal with the EU as its first priority, if it is to ensure the future growth of the UK economy.

Dates for your diary

Government Affairs Network - London, 11 December

Just one day before the general election, the CBI will be offering the latest analysis alongside renowned polling expert Ben Page from Ipsos MORI. Regularly appearing on national TV and radio, Ben will provide exclusive insight into what the polls are indicating and what we could expect from the outcome of the election.

Book now

CBI Conference Series: International Trade - Edinburgh, 20 January

Join Minister for Trade, Innovation and Investment Ivan McKee MSP and Nicola Sturgeon MSP First Minister of Scotland. Get practical advice on the next steps to internationalise your business and how you put those plans into action.

Book now

Recent engagement

  • Last week, the CBI hosted our annual Sunningdale meeting with 10 Civil Service Permanent Secretaries, including Sir Mark Sedwill, to discuss the state of the relationship between government and business, net zero and reskilling
  • CBI Director-General, Carolyn Fairbairn, met Russel Mills, Secretary-General of Business at OECD, to explore how Members can best influence emerging policy at the world’s leading economic policy forum
  • The CBI Brussels team hosted a roundtable with Goran Štefanić, Croatian Deputy Permanent Representative ahead of next year’s Croatian Presidency of the EU.