Businesses left in ‘utter dismay’ by political gamblers

BUSINESSES ARE watching events at Westminster with “utter dismay”, the Government has been told, as companies continue to press for the uncertainty over Brexit to end.

Dr Adam Marshall, director general of the British Chambers of Commerce, said politicians should understand the impact of their “high-stakes gambles”.

He said: “At one of the most pivotal moments for the UK economy in decades, it is unacceptable that Westminster politicians have chosen to focus on themselves, rather than on the needs of the country.

“The utter dismay amongst businesses watching events in Westminster cannot be exaggerated. Our firms are worried, investors around the world are baffled and disappointed, and markets are showing serious strain as this political saga goes on and on.”

There was another clear sign of the impact of the continued Brexit uncertainty yesterday as engine maker Rolls-Royce confirmed it was pressing ahead with plans to shift design approval for large aero engines from Derby to Germany amid Brexit worries.

The group said it was in talks with the European Safety Aviation Agency over the move, which comes as part of Brexit contingency planning that has seen stockpiling of parts in readiness.

But Rolls stressed the switch to Germany – where it already handles design approval for business jet engines – was a “precautionary and reversible technical action” and would not impact UK jobs.

Federation of Small Businesses chairman, Mike Cherry, said planning ahead had become impossible, while the Institute of Directors said many business leaders would be “tearing their hair out” at Westminster politics.

Stephen Phipson, chief executive of EEF, the manufacturers’ organisation, added: “Business was already staring down the barrel of substantial uncertainty with manufacturing activity grinding to a halt and investment being cut back. A leadership challenge now is extremely unhelpful and the last thing that industry wants to see.”