London business demands Government stops the clock on Brexit to avoid crashing out
14 March 2019
London First, the business campaign group with over 200 of the capital’s leading employers in membership, is demanding the Government stops the clock on the UK’s withdrawal from the EU to avoid the economic damage of leaving without a deal.
Jasmine Whitbread, chief executive of London First said: “London’s businesses will be relieved that Parliament has finally accepted the need for more time to avoid a disastrous no deal Brexit. Revoking Article 50 is the only way to guarantee that happens without going cap in hand to all EU members with no clear plan.
“We need to stop the clock on Brexit and give Parliament the time it needs to reach a consensus on the way forward. If it can’t, then the decision must go back to the people.”
Recent research from London First revealed that just 41% of businesses feel they’ve been able to plan effectively for Brexit and that continued uncertainty is the overwhelming reason why businesses feel unprepared (79%)1.
London First argues that falling back on World Trade Organisation (WTO) rules would mean huge practical and logistical problems for UK companies and has been calling for a Brexit deal which retains the benefits of the customs union, safeguards the service sector and keeps the UK open to the talent and skills the UK economy needs.
While the Withdrawal Agreement is far from perfect, it was supported by London business as the only alternative to crashing out of the EU at the end of March. However, with the deal repeatedly defeated and the deadline edging ever closer, London First is calling on the Government to stop the clock on Brexit now, rather than putting it to a third vote.
Become a member
Our members include over 200 of the capital’s leading employers across a wide range of sectors, with a common commitment to our capital.