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The letter, which Best for Britain helped coordinate, was led by Chairman of the International Chamber of Commerce Paul Drechsler and expresses support for a policy of ‘beneficial alignment’ with EU standards as recommended by the UK Trade and Business Commission in its landmark report in May.
Paul Drechsler, Chairman of the International Chamber of Commerce said,
“Less friction means more trade and so it’s just common sense to start from a point of beneficial alignment.
“Our aim should be common rules and high standards for global trade to increase certainty and reduce costs, while providing the public with democratic accountability by giving the UK Parliament and devolved administrations a meaningful role in scrutinising and approving trade policy.”
Peter Norris, Chairman of Virgin Group and member of the cross-party UK Trade and Business Commission said,
“Leaving the single market has already increased costs for businesses and consumers, and further divergence will only hike prices further during a cost of living crisis
“As recommended by our commission, aligning with high EU standards and protections where beneficial is not only good for UK businesses, but for consumers, workers and the environment too.”
The letter, published in the Guardian, in full reads:
Dear Sir/Madam,
With an election looming, business leaders across the UK will have paid close attention to recent comments in the media regarding alignment with EU standards and regulations.
In the wake of the UK’s departure from the EU and recent attempts to force divergence unilaterally in the UK, many businesses, business leaders and business organisations would welcome a policy of alignment with EU standards and regulations, unless it is explicitly not in the UK’s interests to do so.
Such a policy of ‘beneficial alignment’, as proposed by the UK Trade and Business Commission, would enable businesses and investors to have confidence in the UK’s regulatory foundations, while still allowing the UK to maintain its own regulatory autonomy.
By taking this approach, any future UK Government will be able to reassure businesses and investors, both domestically and internationally, that the UK is committed to maintaining high standards and protections, strong relationships with its trading partners, while also protecting the interests of UK businesses.
Best wishes,