CBI: 'For firms across Europe, warm words are not enough'

23 Oct 2017 01:06 PM

The CBI has responded to the outcome of the European Council Summit.

Carolyn Fairbairn, CBI Director-General, said:

“Today’s warm words are welcome, and it’s clear that the Prime Minister’s Florence speech has unlocked progress. But for firms across Europe, warm words are not enough. Decisions and certainty are now needed to protect jobs and investment on both sides.

“A transition deal by year end is top of the list. We urge the EU to put people before process and take a pragmatic approach to recognising sufficient progress. And the UK must continue to seek to unblock discussions. Where agreement is within touching distance, make the final step.

“While all effort and goodwill must go into securing the new partnership, firms across the EU have no choice but to prepare for all outcomes, including ‘no deal’. Larger firms are already well advanced in their plans and the CBI will now support its small and medium sized members to do the same. Inevitably, as these plans are implemented there is a cost to communities, from Berlin to Brighton.

“Both sides must put the shared interests of UK and EU citizens first by providing a roadmap for the future, with transition agreed by Christmas so the shape of the final deal can be discussed early next year.”