EU and UK business: No deal Brexit is a no-win outcome that must be avoided
by David Fleschen
With less than 20 days remaining, European businesses are calling for a no deal Brexit to be averted immediately to avoid major disruption of supply chains across all industries and to protect jobs.
The undersigned organizations reiterate that a no-deal Brexit will have disastrous consequences for businesses and citizens on both sides of the Channel.
EU and UK companies have benefited from over 40 years of economic integration and 25 years of the Single Market. As a result, value chains have become so closely intertwined that a no-deal Brexit will lead to chaos.
Delays at customs and disrupted supply of all goods, including foods and medicines, will affect communities and incur significant costs for businesses and governments alike. In many areas, businesses do not yet know the trading conditions they will be operating in and smaller companies are already experiencing cash flow problems in the face of this uncertainty. Jobs are at risk as businesses might have to close down or downsize, unable to deal with disruptions.
As a matter of urgency the undersidgned organisations call on both parties to secure the Withdrawal Agreement and transition period. This will give businesses time to adapt to the new reality and allow the EU and UK to prepare and agree on their future relationship.
Source: Eurofer, Photo: Fotolia