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The undersigned organizations reiterate that a no-deal Brexit will have disastrous consequences for businesses and citizens on both sides of the Channel.
EU and UK companies have benefited from over 40 years of economic integration and 25 years of the Single Market. As a result, value chains have become so closely intertwined that a no-deal Brexit will lead to chaos.
Delays at customs and disrupted supply of all goods, including foods and medicines, will affect communities and incur significant costs for businesses and governments alike. In many areas, businesses do not yet know the trading conditions they will be operating in and smaller companies are already experiencing cash flow problems in the face of this uncertainty. Jobs are at risk as businesses might have to close down or downsize, unable to deal with disruptions.
As a matter of urgency BUSINESSEUROPE and participating organisations call on both parties to secure the Withdrawal Agreement and transition period. This will give businesses time to adapt to the new reality and allow the EU and UK to prepare and agree on their future relationship.