Brexit: UK business lobby asks 20 ‘critical’ questions
LONDON: From ‘watching in horror’ to alarm at growing uncertainty on Brexit, a British business group on Wednesday asked 20 ‘critical’ questions of the Theresa May government if the UK leaves the EU on March 29 without a deal on the way forward.
The questions by the British Chambers of Commerce (BCC), representing 75,000 companies, range from ability to move across the EU, tariffs, standards, disputes resolution to trade agreements and agencies that will be in charge of regulation. Many questions reflect fundamental aspects of how companies operate. The absence of clarity and precision has already stifled investment and growth, and is resulting in unnecessary costs, inability to plan and, increasingly, loss of business as customers look elsewhere, BCC said. Adam Marshall, BCC director-general said: “In less than 50 days, UK firms could face the biggest change to their terms trade in over a generation, without the information and clarity they need to navigate their forward course”.
“There is a very real risk that a lack of clear, actionable information from government will leave firms, their people and their communities hung out to dry. Even those companies trying their hardest to get ready are still in the dark on important matters from contracts through to customs”.
Marshall added: “Many others, who took the decision to wait for the political process to conclude before acting, would face sudden and costly adjustments if a deal is not reached. It is little wonder that many firms have been holding back on investment, stockpiling, and even opening offices and moving operations and jobs elsewhere”. Growing ennui among business was reflected recently by five organizations representing hundreds of thousands of companies in the UK, including , Confederation of British Industry, EEF (the manufacturers’ organization), Federation of Small Businesses and the Institute of Directors.