CBI recommends five headline principles for managing Brexit

ENSURING the UK’s migration system allows businesses to employ the people they require and retaining the current ease of trading with the European Union have been highlighted as key priorities for Brexit negotiations.

These two considerations are among five key “principles” which the Confederation of British Industry has told the UK Government should underpin negotiations with the EU to ensure the most successful future for the UK economy.

The CBI cites the importance of “retaining the ease of UK-EU trade that businesses gain from the single market”, and “ensuring the UK’s migration system allows companies to access the people and skills they need – while recognising public concerns”.

It also flags a need for “balancing regulatory equivalence with the EU with flexibility and influence over the domestic environment”, and “developing a clear strategy for international trade and economic agreements”.

It goes on to emphasise the importance of “protecting the economic and social benefits of EU-funded projects”.

CBI director-general Carolyn Fairbairn said: “The principles are clear: businesses want to continue trading easily with the EU while bringing down barriers to new opportunities around the world. They also highlight the need to strike a balance between UK and EU-led regulation in future, to ensure access to global talent, and for clear plans to be put in place to replace EU funding.

“To achieve this, a new, deep partnership will be needed between the Government and firms of all sizes across the UK. Firms recognise that trade-offs may be necessary but that they should be guided by these principles.”

The CBI noted it had, in the weeks since the June 23 vote to leave the EU, called for a timetable and plan from the UK Government prior to starting the official exit process by triggering Article 50. It has also urged protection of the status of current EU migrants, which it declared “remains a primary concern for businesses and employees”.

It has held initial consultations with more than 500 members and is undertaking a series of events with companies across the home nations and regions to understand their priorities.