Business Groups Welcome Brexit Progress

Business groups have welcomed the news that Brexit talks are to progress to the second stage, which will explore the future of UK/EU trade relations.

In a joint statement issued by the Federation of Small Businesses – alongside the BCC, CBI, EEF and IOD – the groups said: "It is our collective view that the transition period must now be agreed as soon as possible, to give businesses in every region and nation of the UK time to prepare for the future relationship. Further delays to discussions on an EU-UK trade deal could have damaging consequences for business investment and trade, as firms in 2018 review their investment plans and strategies.

"While our members will be particularly pleased that EU citizens currently living and working in the UK now have more clarity, it's still essential that an unequivocal commitment on their future rights is made whatever the outcome of negotiations.

"We will continue to work with the government to ensure that UK firms can overcome the challenges and take advantage of the opportunities that a new trading relationship with the EU and the rest of the world will bring."

The statement was co-signed by Mike Cherry, National Chairman, Federation of Small Businesses; Adam Marshall, Director General, British Chambers of Commerce; Carolyn Fairbairn, Director General, Confederation of British Industry; Stephen Phipson, Chief Executive, EEF; and Stephen Martin, Director General, Institute of Directors.

(MH)