CBI responds to European Summit developments

Carolyn Fairbairn, CBI Director-General, said: 

“Business’ patience was already threadbare and is nearing an end. The need for compromise on both sides to agree the Withdrawal Agreement and secure the transition period is long overdue. 

“The risk of no deal is already biting hard. With each week that passes, firms are accelerating their contingency planning, diverting investment and costing jobs. And many firms, especially smaller businesses, simply have no time to prepare. All efforts should focus on securing transition to relieve pressure on firms, protecting people, wages and living standards across Europe. 

“If extending the transition period makes the Withdrawal Agreement easier to agree it should be welcomed. Securing the transition period remains the top priority for business to protect jobs and investment.”