British premier to meet executives as no-deal fears grow
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LONDON: Prime Minister Theresa May was to meet about 130 business leaders and major investors on Wednesday as concerns mount about the chance that Britain will leave the world’s biggest trading bloc without a deal.
May and inance minister Philip Hammond are due to meet executives to discuss Brexit and this week’s annual budget, which included spending pledges and higher taxes on technology irms. They will both make statements and then take questions.
“It’s part of regular engagement we have with business, it’s an opportunity for them to ask questions of the PM and, of course, of the Chancellor (Hammond), about anything they may be interested in,” May’s spokesman said.
“Of course, Brexit may well be raised.” The government has so far not said where the meeting is taking place or who will be attending. With ive months to secure a deal before Britain is due to leave the European Union, business leaders are demanding certainty over the kind of trade terms the divorce will deliver. In particular, they want reassurances that there will be a 21-month transition period after Britain is due to leave the bloc.
If Britain and the European Union fail to strike a withdrawal agreement, there will be no formal transition period to cushion the impact of Brexit.
Earlier on Wednesday, the opposition Labour Party’s inance spokesman John Mcdonnell also briefed businesses on the budget, and said those attending had quickly focused on Brexit during the discussion. “We’re as worried as they are about the uncertainty and the lack of assurance coming from government about a deal,” M cd on ne ll told reporters after the meeting.
Meanwhile, a senior member of the Scottish National Party has questioned his party’s backing for a second vote on European Union membership, arguing that it could undermine its Scottish independence goal.