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No certainty for business as rush to 'get Brexit done' puts economic growth at risk

Posted by Warwick Business School at 17 December 2019, 17:05 CET |
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Following reports that the Prime Minister plans to legislate to prevent further delays to Brexit beyond December 2020, Nigel Driffield, Professor of International Business at Warwick Business School, said:

"The election focus by the Conservative Party on "getting Brexit done" will make people believe the Government is in a position to do just that.

"Equally, the Government has sought to give the impression that this also includes the trade deal with the EU and the ability to move on to trade deals with the rest of the world.

"However, the reality is somewhat removed from this.

"The political declaration has very little detail on trade, except for some understanding that there will have to be some frictions in trade between Northern Ireland and the rest of the UK. There is an utter lack of clarity on key areas such WTO terms, rules of origin, and quality of assurance for exporting.

"The CBI this week urged caution that "sustainable economic growth will be risked if there is a needless rush for a bare bones Brexit deal that would slow down our domestic progress for a generation. We are a long way off the certainty that business craves, especially in terms of stimulating investment."

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