As expected, last week’s European Council did not provide a breakthrough in the UK-EU negotiations. Instead we saw growing rhetoric on both sides, pushing each other to be the one to compromise. Over the weekend, the CBI - along with 71 trade associations and professional bodies - publicly called for leaders on both sides to show historic political leadership, urging compromise to find a route through to a deal.
On Wednesday, both sides “jointly agreed a set of principles for handling this intensified phase of talks” which allow for a new momentum. From our conversations with those in the negotiating rooms, the CBI understand that progress has been made across 8 of 11 negotiating tables – with the sticking points continuing to be the level playing field, fish and governance.
While there is progress on the process, and a deal is achievable, it is not guaranteed. And from CBI co