‘Another day of failed politics’: Businesses react to Brexit talks collapse
The cross-party talks between the Conservatives and Labour collapsed today in acrimonious circumstances.
Read more: May blames Labour divisions for failure of Brexit talks
Prime Minister Theresa May blamed divisions within the Labour for the failure of the talks, while Labour leader Jeremy Corbyn said the instability of May’s government meant the talks were unviable.
Business leaders today reacted to the failure of the talks and gave their views on possible economic and political fallout.
Carolyn Fairbairn – CBI director general
“Another day of failed politics, another dispiriting day for British business. Six wasted weeks while uncertainty paralyses our economy. The May parliamentary recess should be cancelled and used to agree a deal as soon as possible – whether through indicative votes or the Withdrawal Agreement. Business and the country need an urgent resolution to this mess. This is no time for holidays. It’s time to get on with it.”
Another day of failed politics, another dispiriting day for business. Uncertainty continues to paralyse our economy. May parliamentary recess must be cancelled and used to agree a deal asap. Business and the UK need an urgent resolution to this mess. It’s time to get on with it.
— Carolyn Fairbairn (@cbicarolyn) May 17, 2019
Jasmine Whitbread – chief executive of London First
“After much farce and folly, cross-party talks have failed and parliament has shown itself to be incapable of reaching a consensus.
“We’ve now wasted more than 1,000 days and squandered billions of pounds in Brexit planning. Going round and round in circles and expecting a different result is futile and another round of indicative votes is utterly pointless. It is unlikely to achieve anything but further delay and more uncertainty.
“Enough is enough: it’s time to take the decision back to the people. That is now the only way to end the uncertainty once and for all. The alternative is permanent paralysis.”
David Frost – chief executive of the London Chamber of Commerce and Industry
“I was always doubtful that cross-party talks could reach a conclusion and even more doubtful that any plausible outcome from them would have been good for the longer-term business environment in London and the UK.
“There are still a number of factors at play and no doubt more will emerge – so it is vital that the time between now and 31 October is not wasted.
Read more: Labour quits cross-party Brexit talks with Tories
“For example, a Conservative party leadership election is now looking very likely: if so, we would urge it to be conducted as expeditiously as possible to avoid a further period of uncertainty into the summer and beyond.
“Businesses need parliament to find a way through, and in the meantime need continued practical help about no deal preparation – since that outcome remains a distinct possibility, and isn’t just a matter for the UK to decide upon.”