‘No Deal’ Brexit will be ‘very seriously negative’ for East Mids, says CBI president
The president of the CBI has told TheBusinessDesk.com that a ‘No Deal’ Brexit outcome would be “very seriously negative” for East Midlands businesses.
Speaking at Doddington Hall, Lincoln, to East Midlands’ business leaders, John Allan told us: “I don’t think it’s too strong to say that if we don’t get a positive outcome from the Brexit negotiatons, then it would be very seriously negative for businesses.
“I think it’s incredibly worrying, and I’ve not met anyone who believes a ‘No Deal’ outcome would be anything but bad for the economy.
“East Midlands businesses are rightly worrying about the supply of key labour to a number of industries and the consequences any shortage would bring about.
“Any ‘No Deal’ scenario would not only hurt British companies, but also their counterparts in Europe. I woudn’t say I’m confident about getting a good deal from the Brexit negotiations, but I’m hopeful.”
In his address to the audience, Allan discussed the importance of agri-business in the East Midlands and how the welfare of this industry determines the welfare of our whole country.
He said: “More and more, people are seeing the East Midlands as the best place in the UK to do business, from Nottingham to Northampton and beyond. And the reason is clear. Aside from being home to nine pioneering universities – which attract almost 100,000 students from across the UK each year – it’s the heart of agriculture in Britain.
“Farms here produce over 30% of UK’s vegetables, and of course, all this is supported by a world-leading transport and logistics industry. Which is 40% more productive in the East Midlands than the rest of the UK as a whole.
“Low-skilled workers are so vital to businesses here in the East Midlands. They don’t just underpin the local economy but have also helped build an economy that works for the whole of the UK.”