Warning that UK and EU are not ready for no-deal Brexit
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The Confederation of British Industry (CBI) has warned the government that neither the UK nor the EU is ready for a no-deal Brexit on 31 October.
“While the UK’s preparations to date are welcome, the unprecedented nature of Brexit means some aspects cannot be mitigated,” said the CBI.
The CBI’s report What Comes Next? The Business Analysis Of No Deal Preparations advises what measures businesses can take to reduce the worst effects. The advice is based on a study of existing plans laid out by the UK government, European Commission, member states and firms.
The European Union is less prepared for a no-deal Brexit than Britain, potentially leaving British firms at a disadvantage if there is no transition agreement and weakening London’s hand in future trade talks, a British employers group said.A government spokesman said the UK has increased the pace of planning for no-deal.
The CBI had previously said leaving the EU with a deal was essential to protect the economy and jobs.
The EU, except for Ireland, lags behind Britain in its no-deal preparations “by some way”, the CBI added.
New prime minister Boris Johnson has made Michael Gove responsible for planning a no-deal Brexit.
Gove has said the UK government is currently “working on the assumption” of a no-deal Brexit.
