| Author (Corporate) | BBC |
|---|---|
| Series Title | BBC News |
| Series Details | 13.06.17 |
| Publication Date | 07/07/2017 |
| Content Type | News |
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Further information CBI Brexit Briefing, July 2017: Staying in the EU single market and a customs union until a new deal is in force The complexity of the task of negotiating a free trade deal between the UK and the EU cannot be underestimated. The UK and the EU have a deep relationship, built on 40 years of economic integration. Reflecting that will require both parties to commit to seeking the most ambitious free trade deal ever signed. There is a real possibility that – with the best political will in the world – that deal will not be agreed, ratified and in force by the deadline provided by Article 50. To provide the certainty that businesses need, transitional arrangements will be required. As far as possible, those transitional arrangements should replicate as much of the economic relationship that is in place between the UK and the EU at the moment. The simplest way of achieving that would be for negotiators to agree that the UK should remain in the single market and a customs union until a new deal is in force. Agreement of this would secure continuity for business operations, protect ease of trade between the UK and the EU, and give negotiators the time they need to make Brexit a success for both sides.Following the inconclusive results of the United Kingdom General Election on the 8 June 2017 there were calls by UK business representative organisations the Confederation of British Industry (CBI) and the The Manufacturers' Organisation (EEF)for a resetting of the UK Government's Brexit negotiating strategy. Terry Scuoler, Chief Executive of EEF, the manufacturers’ organisation, said: 'The Brexit negotiating strategy requires a careful rethink. Industry should be at the table, alongside whatever administration is formed, to help ensure we have the right negotiating position, which is something that's been sadly lacking until now'. CBI Director-General Carolyn Fairbairn wrote in an FT article 'For the sake of our economy and the prosperity of our regions, it is time to change tack. This election has shown that forward-looking and positive positioning is welcome. We now have the opportunity to reset — a reset that prioritises prosperity and will be appreciated by voters and businesses across Europe, because it will result in a better deal'. David Davis, the Secretary of State for Exiting the European Union, held a Brexit Taskforce meeting with representatives of the major UK business organisations at Chevening on the 7 July 2017 to hear the concerns of the business community. Prior to that on the 6 July 2017 the CBI presented a Briefing called Staying in the EU single market and a customs union until a new deal is in force. Also attending the Chevening meeting the British Chambers of Commerce called 'on the UK government to put British business and economic considerations first in the on-going Brexit negotiations'. See also the links to a report published by the Institute of Directors (IoD) in August 2017 Transitioning from Brexit – not just semantics. The report revealed what steps the government should take in a transitional period after leaving the EU and the implications for British busines. |
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| Source Link | Link to Main Source http://www.bbc.co.uk/news/business-40251190 |
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| Countries / Regions | United Kingdom |
