U.K. Should Publish Brexit Priorities After June Vote, IoD Says

  • ‘Easier it will be for companies to plan,” says lobby’s head
  • Barnier proposes round of talks 11 days after June 8 election

Follow @Brexit for all the latest news, and sign up to our daily Brexit Bulletin newsletter.

The next U.K. government should publish a detailed list of Brexit negotiating priorities immediately after next month’s election, according to the Institute of Directors, which represents about 30,000 U.K. company directors.

“The sooner after the election the government can spell out their priorities, the easier it will be for companies to plan,” Allie Renison, the lobby group’s head of EU and trade policy, said in a statement. “It would be better if the next government was as up-front as possible about their vision of Brexit.”

Michel Barnier, the EU’s chief Brexit negotiator, said Monday he is seeking to organize the first round of talks “hopefully in the week of June 19,” 11 days after Britain’s vote on June 8. Prime Minister Theresa May’s Conservatives are expected to boost their parliamentary majority in the election, although the opposition Labour Party has been edging closer in the polls.

The IoD also called for a Brexit voucher scheme or specific tax relief to help firms offset the costs of planning for Brexit, as well as a joint customs committee with the EU to “prevent customs chaos”.

“The scope for disruption is significant,” Renison said. “Allowing businesses to prepare will be key to a smooth Brexit.”

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE