Leaders’ urgent to-do list for PM

BUSINESS leaders urged Boris Johnson to avoid a no-deal Brexit as fresh evidence emerged yesterday of the damage on factories from political uncertainty and the slowdown in global trade.

The challenge facing the new prime minister was brought into sharper focus by a CBI survey showing the fastest slowdown in orders since the financial crisis.

Feedback from nearly 300 companies showed both domestic and new export orders on the slide over the three months to July, while they are at their least optimistic since July 2016, just after the Referendum.

CBI chief economist Rain Newton-Smith said: “As the tail-wind from stockpiling weakens, clouds are gathering above the manufacturing sector. It’s being hit by the doubleblow of Brexit uncertainty and slower global growth.

“With orders, employment, investment output and business optimism all deteriorating among manufacturers, it’s crucial for the new prime minister to secure a Brexit deal ahead of the October deadline. And get on with pressing domestic priorities from improving our infrastructure to fixing the apprenticeship level.”

Johnson has pledged to leave the European Union without a deal if no agreement is reached by the deadline, October 31, but CBI director-general Carolyn Fairbairn urged him “not to underestimate the benefits of a good deal” and added: “It will unlock new investment and confidence in factories and boardrooms.

“Business needs three things in the first 100 days: a Brexit deal that unlocks confidence, clear signals the UK is open for business and a truly pro enterprise vision.”

The Institute of Directors called on Johnson to “supercharge” regional growth, reduce the burden of business rates, incentivise investment, reform the skills system and provide financial support for small firms over Brexit.

British Retail Consortium chief Helen Dickinson, said: “We hope the new Government will commit to a full review of the broken business rate system and bolster the retail industry.”