Brexit: UK business groups react with anger to vote result
By Frank Prenesti
Date: Tuesday 15 Jan 2019
(Sharecast News) - UK business leaders reacted with anger to Tuesday's heavy defeat of Prime Minister Theresa May's Brexit withdrawal agreement.
Confederation of British Industry director-general Carolyn Fairbairn: said:
"Every business will feel no deal is hurtling closer. A new plan is needed immediately. This is now a time for our politicians to make history as leaders. All MPs need to reflect on the need for compromise and to act at speed to protect the UK's economy."
British Chambers of Commerce:
"There are no more words to describe the frustration, impatience, and growing anger amongst business after two and a half years on a high-stakes political rollercoaster ride that shows no sign of stopping.
"Basic questions on real-world operational issues remain unanswered, and firms now find themselves facing the unwelcome prospect of a messy and disorderly exit from the EU on March 29."
"The overriding priority for both government and parliament must now be to avoid the clear danger that a 'no deal' exit on the 29th of March would pose to businesses and communities across the UK. Every second that ticks by sees more businesses spending money on unwanted changes, activating contingency plans or battening down the hatches and halting investment, as they try to anticipate a future that is no clearer now than it was at the time of the referendum result."
"Businesses will take a dim view of more shuttle diplomacy and last-minute bargaining, which have so far done nothing to end the political impasse. The government must now urgently set out in concrete terms what it will do to avoid the damage that a messy and disorderly exit on March 29th would cause to businesses, communities, and the UK economy."
Society of Motor Manufacturers and Traders chief executive Mike Hawes:
"The vote against the Brexit deal on the table brings us closer to the 'no deal' cliff edge that would be catastrophic for the automotive industry. All sides in parliament must work together to find a way forward and put the necessary mechanisms in place to prevent this happening and explore alternatives that protect our future."
"Leaving the EU, our biggest and most important trading partner, without a deal and without a transition period to cushion the blow would put this sector and jobs at immediate risk. 'No deal' must be avoided at all costs. Business needs certainty so we now need politicians to do everything to prevent irreversible damage to this vital sector."
Federation of Small Businesses chairman Mike Cherry:
"It is time for politicians to come together and urgently find a way forward from this alarming Brexit stalemate, and now, no-confidence vote. The UK is due to leave the EU in just 10 weeks, and yet businesses still have no idea what kind of circumstances they should prepare for. Many small businesses would be adversely impacted by a chaotic no deal exit. It is vital that there is a transition period, to give smaller firms time to adapt to whatever the final outcome turns out to be."
"Small business confidence has plummeted to its lowest point since the wake of the financial crash. Four in 10 expect performance to worsen over this quarter, two thirds are not planning to increase capital investment, and a third see lack of the right skills as a barrier to growth. That's what political uncertainty does to business: it makes it impossible to plan, innovate and expand.
"The prime minister tonight suggested that beyond tomorrow's confidence vote she would be willing to approach members of other parties in a constructive spirit. This should involve meaningful talks, to find a genuine cross-party way forward."
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