Brexit: UK business leaders urge David Davis to get transition deal sorted ASAP

Brexit: UK business leaders call for transition deal arrangements to be agreed upon in letter for David Davis

Five lobby groups have written to the Brexit Secretary over a transition deal

Monday, October 23, 2017

A group of business leaders have come together to urge Brexit Secretary David Davis to finalise a transition deal with his European Union counterparts as soon as possible.

The draft letter, signed by five of Britain’s largest business lobby groups, has also demanded the deal match current EU trading arrangements as closely as possible, to minimise disruption.

Tletter – which is not believed to have yet been sent – has been reportedly signed by the British Chamber of Commerce, Federation of Small Businesses, the Confederation of British Industry, the Institute of Directors and trade body EEF.

Reports suggest the authors stress the need for businesses to make only one adjustment as a result of Brexit, rather than two.

Theresa May – who is to make a statement in the House of Commons on the ruling of the European Council summit last week – had previously requested a two-year transition period, to allow the UK to fulfil its EU budgetary commitments.

However the negotiations have recently stalled amid criticism from both sides, with the British Government reportedly preparing for a no-deal scenario.