PM addresses business leaders on Brexit: 19 October 2018

United Kingdom Prime Minister Theresa May addressed UK business leaders on Brexit on the 19 October 2018.

The Prime Minister took questions from businesses and representative bodies (Centrica, EY, Diageo, Enterprise Nation, RBS, Federation of Small Businesses, ITV, Aston Martin, Barratt Developments and Tesco) on topics such as the importance of frictionless trade, the implementation period and opportunities for the future.

According to new Confederation of British Industry (CBI) research on business preparations published on the 21 October 2018 eight out of ten firms reported that Brexit had had a negative effect on investment decisions.

The survey of 236 firms, representing 101 large companies and 135 SMEs, also revealed the majority would implement damaging contingency plans in the absence of greater certainty on Brexit by December 2018.

Carolyn Fairbairn, CBI Director-General, warned ‘the speed of negotiations is being outpaced by the reality firms are facing on the ground’. And almost 1 in 5 firms said the point of no return for triggering their plans had already passed.

• Primary Source

ESO: In Focus, June-October 2018: Union and business leaders issue joint appeal for progress in Brexit negotiations / Brexit: time running out for answers to firms’ real-world questions, says BCC / 8 out of 10 businesses say Brexit hits investment as speed of talks outpaced by reality firms face on ground http://www.europeansources.info/record/union-and-business-leaders-issue-joint-appeal-for-progress-in-brexit-negotiations-brexit-time-running-out-for-answers-to-firms-real-world-questions-says-bcc-8-out-of-10-businesses-say-b/

ESO: In Focus: Brexit - The United Kingdom and the European Union http://www.europeansources.info/record/brexit-the-united-kingdom-and-the-european-union/

ESO: In Focus: Brexit - Impact on business in the United Kingdom http://www.europeansources.info/record/brexit-impact-on-business-in-the-united-kingdom/

CBI: News, 21.10.18: 8 out of 10 businesses say Brexit hits investment as speed of talks outpaced by reality firms face on ground http://www.cbi.org.uk/news/8-out-of-10-businesses-say-brexit-hits-investment-as-speed-of-talks-outpaced-by-reality-firms-face-on-ground/

BBC News, 21.10.18: UK firms 'near point of no return' https://www.bbc.co.uk/news/business-45931537

---