• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
  • Guest Content
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home Business and Economics

A no-deal would be like “setting the shed on fire” while the house was in flames – CBI

Carolyn Fairbairn warned the "resilience of British business is absolutely on the floor".

Jack Peat by Jack Peat
2020-06-11 11:43
in Business and Economics
FacebookTwitterLinkedinEmailWhatsapp

The Confederation of British Industry has sent out a warnings over a no-deal Brexit as the clock winds down on the transition period.

Outgoing boss Carolyn Fairbairn said British firms do not have the resilience to cope with a no-deal Brexit after the battering of the coronavirus crisis, adding that one member had likened it to “setting the shed on fire” while the house was in flames.

Brexit negotiations broke up last week with the EU’s chief negotiator saying that very little progress had been made on key sticking points.

Dame Carolyn Fairbairn told the BBC that any buffers to cope with the additional cost and planning of an exit from the EU customs union and single market without a deal had been exhausted by the Covid-19 pandemic.

Resilience “on the floor”

“The resilience of British business is absolutely on the floor,” she said.

“Every penny of cash that had been stored up, all the stockpiles prepared have been run down.

“The firms that I speak to have not a spare moment to plan for a no trade deal Brexit at the end of the year – that is the common sense voice that needs to find its way into these negotiations.”

Brexit extension

Northern Ireland joined Wales and Scotland last week in backing an extension to the Brexit transition period.

The Assembly passed the motion by 50 votes to 38, with only unionists opposing it.

RelatedPosts

JD Wetherspoon’s profits plummet 91 per cent

Only 1% of £1.1 billion lost to fraudulent Covid grants recovered – watchdog

Cambridge University’s economic contribution ‘four times that of Premier League’

UK economy set to be second-worst in G20 this year – OECD

DLP MLA Matthew O’Toole said it was “mad and dangerous” not to extend given the current economic circumstances.

“It is especially dangerous because we know how close we came, in recent weeks, to serious disruption to supply chains across these islands.

“If we end this year with no trade deal and no extension to the transition, we could face the very real prospect of significant disruption to supply chains, not just between Calais and Dover but between Holyhead and Dublin – a route that is critical to the Northern Ireland market – and at Belfast and Larne.”

Related: 2020 will become the new normal if we don’t adjust

Content Protection by DMCA.com
Please login to join discussion

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending

Elevenses: Exposing the Tories’ Deepfake Illegal Immigration Bill

Elevenses: Rishi’s Finest Hour

Elevenses: Fear and Loathing in the New Conservatives

More from TLE

TLE meets: Ritesh Batra

LATEST: London Marylebone railway station closed

Cash strapped hospital forced to scrap healthy eating option

Ambulance crews attacked in separate incidents putting staff in hospital

Spirit of the Week: HYDE Irish Whiskey No.4 President’s Cask

Matt Hancock says PM’s ‘hopeless’ jibe is ancient history

Bar Douro shares adapted Portuguese recipes to cook at home

LIVE: Cave In

Boris bridge to Northern Ireland rejected over £335 billion cost

France joins Denmark and Poland in banning tax haven firms from coronavirus relief

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.