British Industrialists Association: British economy can’t stand Brexit without deal



Business leaders have warned Boris Johnson that the British economy is not ready for a Brexit without a deal. At the same time, British companies are facing serious problems due to the pandemic. Business groups are calling for an immediate solution to the Brexit talks, after the Prime Minister announced to British companies that they should prepare for a trade relationship with the EU on terms “that is more like Australia “- which means leaving without an agreement and supporting the terms of the World Trade Organization. Carolyn Fairburn, general manager of the British Industrialists’ Association, said:” After four years of negotiations and overcoming so many obstacles, is the right time to give them up. Neither side has the margin to fail in the last hurdle. The agreement is the only outcome that protects coronavirus-affected incomes, at a time when every job in our country matters. ”Mike Cherry, national head of the Federation of Small Businesses, said companies were not ready to face a Brexit without an agreement just 10 weeks before the end of the transition period at the end of December. “At the same time, they are being told to prepare for Brexit and to manage a new set of measures for the coronavirus. “Many simply do not have the time or money to make the necessary adjustments, even if they want to or should do so.” , before gradually beginning to recover. The exchange rate of the euro moved from € 1.1050 to € 1.0991 before beginning to recover. The currency recovery came when European Commission President Ursula von der Leyen said talks would continue next week in London. International investors are betting on whether there is still room for agreement. Analysts say the British president’s announcement was just a well-made show designed to force the EU to retreat. But they warn that the chances of not reaching an agreement are increasing. Neil Wilson, chief market analyst at Markets.com, says: “It’s not just a bluff – Britain would accept a no-brainer because Johnson has accepted so much. “Criticism for the management of the pandemic has no room to ‘disappoint the country’ with Brexit.” Although time is short, he explains, an agreement could be reached even at the last minute. This shows that the informal meeting of national leaders in Berlin on November 16 could be the crucial moment. food security and dramatically increase the prices of products for consumers. “The Prime Minister’s statement shows that we are leading on very dangerous paths. The risks of a Brexit without an agreement for the country’s food and beverage industry remain equally significant. “Leaders on both sides need to find a way out of the current stalemate in order to continue negotiations.” Earlier this week, the OECD warned that a naughty Brexit would threaten Britain’s economic recovery from the pandemic. , which represents more than 30 of the world’s most developed economies, predicts a failure to reach a free trade agreement before Britain leaves in late December could push the economy to 6.5% lower in the coming years. warning that companies are not prepared to deal with such turmoil after more than six months of managing the health crisis, the OECD noted that the irregular withdrawal would had the strongest impact on the construction sector, the British car industry and food and textile producers, who will see their exports fall by more than 30% .Susana Streeter, an experienced investment and market analyst at Hargreaves Lansdown, explains: “With the economy still suffering under the weight of the corona, a potentially chaotic exit from the EU will not be easily accepted by the affected companies “. Source: www.theguardian.com



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