“We need agreement of transitional arrangements as soon as possible, as without urgent agreement many companies have serious decisions about investment and contingency plans to take at the start of 2018,” the business groups wrote. “Failure to agree a transition period of at least two years could have wide-reaching and damaging consequences for investment and trade, as firms review their investment plans and business strategies.”
UK business chiefs unite to demand urgent Brexit transition deal
UK business leaders have united to urge David Davis to quickly establish a Brexit transition deal that mirrors existing arrangements or risk losing British jobs and investment. In a letter to the Brexit secretary seen by the Guardian, five of the UK’s biggest business lobby groups said time was running out for the government to strike a transition deal before firms start to rein in spending plans as they finalise budgets for 2018 and prepare to implement contingency plans for Britain’s departure from the EU.
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