Express & Star

Black Country businesses are losing deals

The Black Country Chamber of Commerce has warned that many businesses in the area have already lost deals due to the failure to get reassurance over Brexit negotations.

Published
Prime Minister Theresa May makes her statement on Brexit negotiations with the European Union

Following Prime Minister Theresa May's statement from Downing Street on Friday afternoon in which she said for EU leaders to reject her plan with no alternative at this "late stage of negotiations" was "not acceptable", the chamber's chief executive Corin Crane issued a response.

A defiant Mrs May said: "I will not overturn the result of the referendum nor will I break up my country."

Her statement followed a cool reception for her Chequers plan at a summit of EU leaders in Salzburg.

The UK is due to leave the EU on March 29 and Mr Crane said: “Business leaders across our region are still waiting to find out what impact Brexit will have on their businesses.

"Every day they are faced with uncertainty regarding the future of their work force, economic stability, potential trade and possible tariffs. Many report to already losing business deals; they want to feel confident again regarding their future prosperity.

"The one positive we can take from this afternoon’s press conference is Mrs May’s assurance to the three million EU citizens living in Great Britain that they are our ‘friends, neighbours and colleagues’, asking them to ‘please stay’."

He continued: “At this late stage in the negotiations, it is not acceptable to simply reject the other side's proposals without a detailed explanation and counter proposals, we now have a few more weeks to wait with a further meeting in Europe in October."

Dr Adam Marshall, Director General of the British Chambers of Commerce, said: “While the Prime Minister’s determination to reach a deal is appreciated, businesses tell us over and over that the time for posturing from both sides is over.

Businesses across the UK want the negotiators to knuckle down and deliver tangible results that enable them to plan for the future. Firms need clarity, precision, and answers to their real-word, practical questions – and they need them fast. There is no time to lose. People’s livelihoods, major investments in our towns and cities and business confidence are at stake.”

"Many firms are hugely worried about a messy and disorderly outcome, and the potential impact on their ability to trade and grow. Others could be caught flat-footed. Both sides must make every effort to avoid this scenario.

"Businesses feel a strong sense of responsibility to their EU employees. We welcome the Prime Minister’s clear commitment to guaranteeing the rights of EU citizens currently in the UK, regardless of the outcome of negotiations. This must be translated into clear, precise guidance as soon as possible to give people the security they need.”

The Prime Minister has said the two sides are still "a long way apart" on the post-Brexit economic relationship.

The two options being offered by the EU – for the UK to stay in the European Economic Area and customs union or a basic free trade agreement – were not acceptable.

Carolyn Fairbairn, Confederation of British Industry Director General, said: “The events of the last 24 hours have made one thing abundantly clear - negotiators on both sides must change tack. Rejection of Chequers helps nobody.

“The stakes could not be higher. Jobs, wages and living standards are at risk, on both sides of the Channel.

“With time slipping away, employers and employees alike need to see constructive dialogue. Pragmatism must come before politics. Every day lost in rhetoric is lost investment and lost jobs.”