Firms Facing ‘Cliff-Edge’ Pressure May on Brexit Transition Deal
- U.K. companies say more clarity needed with growth slowing
- Trade Secretary Fox says U.K. can ‘survive’ without EU deal
EU's Barnier Seeks Clarity in Next Round of Brexit Talks
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British businesses stepped up pressure on Prime Minister Theresa May to prioritize a transition agreement with the European Union, warning that firms face a “cliff-edge” when the two-year deadline for Brexit talks expires.
The need for clarity on transition arrangements featured heavily in a meeting Thursday with the new business council in Downing Street, both the Institute of Directors and the British Chamber of Commerce said. It was May’s first serious consultation with companies on Brexit more than a year after taking office, as she seeks a more conciliatory approach to leaving the EU.