UK business recoils at Liberal Democrat leader Vince Cable’s suggestion of a second EU referendum | City A.M.
Vince Cable’s calls for a second referendum on Brexit missed the mark with the business community today, as key trade bodies stressed that the UK must prioritise forging a new relationship with the EU.
Speaking at the party’s conference in Bournemouth, the Liberal Democrat leader said the British people should be given a “first referendum on the facts”, and that another vote would not be a re-run of last year’s.
“We know that our call will, of course, be resented by the Brexit fundamentalists,” he said.
However, the suggestion has also been rejected by influential trade bodies.
Terry Scuoler, chief executive of the manufacturers’ organisation EEF, said “the debate has moved on”.
“The last thing companies need to see is the possibility of any further uncertainty caused by calls for another referendum,” he said.
Read more: Vince Cable set to call for second Brexit referendum at Lib Dem conference
The Institute of Directors (IoD) called on all parties to drop any suggestion of a second referendum in February.
Allie Renison, head of EU and trade policy at the IoD, said the only way for the government to provide certainty for business was to give more clarity on the country’s political future.
“That means not spending time, resources and effort on asking for a much-needed transitional deal and seeking a free trade agreement with the EU in the longer term, only to throw this off course in the next few years,” she said.
A CBI spokesperson said: “Businesses’ priority is seeking a time-limited transition agreement, to be agreed as soon as possible, that gives firms the confidence to continue investing and creates time to get the final deal details right.”