Brexit: Business downbeat over prospects of deal after latest vote
The business community was distinctly unimpressed with after Tuesday's parliamentary vote failed to eliminate the possibility of a no-deal Brexit and left Theresa May trying to renegotiate her own withdrawal agreement.
Carolyn Fairbairn, Confederation of British Industry director-general, said:
“This is another deeply frustrating day for British business. The never-ending parliamentary process limps on while the economic impact of no deal planning accelerates.
“The Brady amendment feels like a throw-of-the-dice. It won’t be worth the paper it is written on if it cannot be negotiated with the EU. Any renegotiation must happen quickly – succeed or fail fast.
“Firms will welcome confirmation that a majority of MPs oppose a no deal outcome. But rejecting a no deal doesn’t get a deal. Until MPs can agree a solution, delay will do nothing to lift the threat of an economic cliff edge that is draining money from the UK.”
Adam Marshall, director general of the British Chambers of Commerce , said:
“Another day lost while the clock is ticking. Government and parliament are still going round in circles when businesses and the public urgently need answers.
“The real-world result of Westminster’s interminable wrangling is market uncertainty, stockpiling, and the diversion of staff, money and investment. For every big-ticket business announcing high-profile Brexit-related decisions, there are many more quietly making the changes they need in order to safeguard their operations in the event of a disorderly Brexit. The net result of this displacement activity and uncertainty is slow but very real damage to the UK economy.
“A messy and disorderly Brexit on 29th March would cause widespread damage to businesses and communities across the country. Neither Government nor many businesses are ready for a no-deal exit in two months’ time, and it must not be allowed to happen by default.”
Mike Cherry, national chairman of the Federation of Small Businesses :
"By passing the Spelman-Dromey amendment, parliament has formally echoed the voice of small businesses that a no deal exit in 59 days’ time is not an option. The amendment does not have any force in law, so a no deal Brexit on 29th March isn’t off the table yet. This vote cannot simply be a symbolic one, we need government and parliament redouble efforts to prevent it."
"Small businesses are not ready, and the country is not ready for this scenario. Tonight has seen a small but significant step that shows parliament falling into line with the UK small business community, which is a small relief. However, we cannot lose sight of the reality that we are still no closer to securing a pro-business deal before 29th March."
Stephen Martin, director general of the Institute of Directors:
"While it is something that MPs have managed to form a majority in any vote, the path ahead is still far from clear. The prime minister clearly faces a difficult task in winning a compromise on the backstop. However, if the choice is between trying to change the deal and leaving without one, business will have to hope the EU can be flexible and consider whether any legal changes at all could further clarify that the backstop is not a permanent fixture."