House of Fraser boss Yuan Yafei says UK businesses need a “signal” on Brexit
House of Fraser boss Yuan Yafei, who also chairs Sanpower Group, has said business needs a “signal” on the kind of Brexit the UK is pursuing.
Yafei, who took control of House of Fraser four years ago, told the BBC that leaving the EU would “not be too bad” for the economy, but that the government should provide more clarity.
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Yesterday, the EU27 agreed its negotiating stance for the transition period, an adjustment phase after Brexit which was called for by the business community.
However, Brexit secretary David Davis signalled yesterday that even agreeing on the terms of the transitional period would not be simple.
He said there would be several points of contention with EU negotiators, particularly over whether the UK should be free to sign new trade deals after March 2019.
The EU has also demanded that the UK abide by its laws after March 2019, and keep its budgetary commitments, but has said the UK will not be allowed to participate in decision-making processes.