LONDON (Pakistan Point News / Sputnik - 23rd August, 2018) Stephen Martin, the director general of the Institute of Directors (IoD), representing senior business leaders in the United Kingdom, welcomed a "no-deal" Brexit advice published by the UK government on Thursday.
Earlier in the day, the UK Department for Exiting the European Union issued a guidance on how to prepare for a no- deal scenario, which includes instructions for businesses and says that prioritizing stability for citizens, consumers and business is a key element in the UK government's approach to preparing for the so-called no-deal Brexit.
"This is a welcome step from the Government, though not before time. Now the Government has planned for the worst, it can get on with negotiating for better," Martin said in a statement.
According to Martin, the guidance should serve as a "call to action" for many companies who suffer from the lack of information on what to plan for.
"Fundamentally, while releasing these notices was important to help businesses prepare for no deal, this is not the outcome that anyone should want. The Government must now throw all of its efforts into ensuring a withdrawal agreement is reached," the IoD director general stressed.
In November, the UK government said it would set aside 3 billion Pounds ($3.8 billion) to help the country overcome the challenges of exiting the European Union.
On Tuesday, UK Brexit Secretary Dominic Raab and EU chief negotiator Michel Barnier agreed to accelerate the pace of Brexit negotiations. The United Kingdom is set to withdraw from the bloc on March 29, 2019.
