No-deal Brexit ‘not an option’ say East Mids business leaders

Failure to agree a deal to leave the EU will cause “serious harm” to the UK economy according to one East Midlands business leader.

The news comes after the government released a raft of Brexit Technical Papers yesterday (23 August) which laid out plans for the UK economy if a deal fails to materialise.

Ian Baxter, Chairman at Baxter Freight, said: “No deal is simply not an option for British businesses. Instead, we hope that the government comes to a sensible arrangement with a sensible transition period. This is still the priority for the government and that should continue along the lines of the Chequers Plan. Failure to reach an agreement is bound to inflict serious harm on our economy.”

Scott Knowles, chief executive at East Midlands Chamber, was equally unimpressed, saying: “Businesses have many questions about Brexit and we’ve been calling on Government for some time to provide further clarity where it can.

“Today’s papers – and those due to follow – are a start, but much more is needed. In many places, the papers only scratch the surface of the questions businesses have.

“In particular, today’s paper concerning continuing trade with the EU if there’s no deal does not do enough to respond to businesses concerns.”

Ian Baxter

Meanwhile, Federation of Small Businesses (FSB) national chairman Mike Cherry, said:

“The dangers of a sudden and unplanned no-deal Brexit have today been laid bare. A pro-business Brexit is one with a transition period – a vital lifeline that won’t be there in a no-deal scenario. The smallest firms will be the least able to cope with a cliff-edge moment.

“It’s right to prepare for a no-deal outcome. That means following-up these notices with guidance that every small business owner can understand. ‘Technical’ is certainly the word – anyone without real expertise won’t be able to make head nor tail of these documents.”