In a letter organized by the Confederation of British Industry, executives from 120 businesses with more than one million employees again warned of a so-called cliff edge in which Britain leaves the European Union in March 2019 without a new trade deal or enough time for companies to adjust. Signatories included representatives of Centrica Plc, Zurich Insurance Group Ltd., Johnson & Johnson and Harrods. [...]
“Our businesses need to make decisions now about investment and employment that will affect economic growth and jobs in the future,” according to the letter. “Continuing uncertainty will adversely affect communities, employees, firms and our nations in the future.”
“Businesses are deeply concerned about Brexit and getting more so by the day,” Carolyn Fairbairn, the confederation’s director general, wrote in a letter in the Sunday Times. “After three rounds of Brexit talks marked by hardball headlines and snail’s-pace progress, the prospect of ‘no deal’ in March 2019 feels all too real. The costs of this are serious.” [...]
Full article on Bloomberg
CBI letter
Related FSB press release: Small business confidence plummets as economy slows and costs rise
Related Business Europe press release: Brexit – business is concerned about the slow pace in negotiations
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