Fury of the business chiefs

BUSINESS leaders have ‘lost all faith’ in the political process after the decision to delay a meaningful vote on Brexit.

Industry groups said it was ‘unbelievable’ that political ‘tactics’ were being put ahead of the economy and that there was ‘little chance’ of a deal being agreed by March 29.

Their frustration comes amid warnings from former Bank of England policymaker Danny Blanchflower that interest rates could be slashed into negative territory for the first time in history in the event of a chaotic No Deal Brexit. Adam Marshall, of the British Chambers of Commerce, said: ‘We are well into the 11th hour, and these endless political manoeuvres aren’t helping the businesses, communities or people of the UK.’

Edwin Morgan, of the Institute of Directors, said: ‘The Prime Minister must make absolutely clear what the Government’s next steps will be if the vote fails again.’

And Josh Hardie, of the CBI, added: ‘No Deal is hurtling closer. It must be averted.’