CBI: Brexit delay 'could only be a stay of execution'

Business groups have welcomed Parliament voting to seek a delay to Brexit.

The vote came after MPs voted down Theresa May’s Withdrawal Agreement for the second time and then ruled out a no-deal Brexit.

But the CBI said that without a “radically new approach” to Brexit, a delay was only “a stay of execution”.

The British Chambers of Commerce added that it “leaves firms with no real clarity on the future.”

Tech industry body TechUK said “We remain days away from a chaotic exit from the EU.”

The pound fell a third of a cent against the dollar immediately following the vote.

Currency: Pound vs dollar

Josh Hardie, CBI deputy director-general, said: “After an exasperating few days, Parliament’s rejection of no deal and desire for an extension shows there is still some common sense in Westminster. But without a radically new approach, business fears this is simply a stay of execution.”

Dr Adam Marshall, director general of the British Chambers of Commerce (BCC), said: “Once again, businesses are left waiting for Parliament to reach a consensus on the way forward and are losing faith that they will achieve this.

“In the meantime, firms are continuing to enact their contingency plans, anxiety amongst many businesses is rising, and customers are being lost.

“Businesses, jobs, investment and our communities are still firmly in the danger zone.”

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BBC News – Business

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