Today the Prime Minister has “changed the landscape” for business

The Prime Minister has changed the landscape for business following today’s defining Brexit speech, according to the Confederation of British Industry.

Carolyn Fairbairn, CBI Director-General, said “ruling out membership of the Single Market has reduced options for maintaining a barrier-free trading relationship between the UK and the EU”, but added that “businesses will welcome the greater clarity and the ambition to create a more prosperous, open and global Britain”.

Theresa May’s today said the UK “cannot possibly” remain within the European single market, promising to push for the “freest possible trade” with European countries and to sign new deals with others around the world.

She used the much-anticipated speech to announce that the UK would push for a tariff-free trade with the EU, a customs agreement with the EU and new trade agreements with countries outside the EU.

Fairbairn added that “the pressure is now on to deliver these objectives and achieve a smooth and orderly exit.

“Businesses want to make a success of Brexit but will be concerned about falling back on damaging WTO rules. They stand ready to support the negotiations to get the best possible deal for the UK by ensuring that the economic case is heard loud and clear.”

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