The UK business community welcomed on Tuesday Prime Minister Theresa May's announcement that the country's withdrawal from the European Union could be delayed, Interim Director General of the Institute of Directors Edwin Morgan said in a statement
LONDON (Pakistan Point News / Sputnik - 26th February, 2019) The UK business community welcomed on Tuesday Prime Minister Theresa May's announcement that the country's withdrawal from the European Union could be delayed, Interim Director General of the Institute of Directors Edwin Morgan said in a statement.Earlier in the day, UK Prime Minister Theresa May said that the UK parliament would vote on a no-deal Brexit in March, if the government's plan on the issue was rejected, and if a no-deal option was voted down as well, the vote on Brexit extension would be held.
"The Prime Minister is right to put her cards on the table for what happens if she fails to get approval for a withdrawal deal by 12 March. Parliament must feel and accept the weight of responsibility that is on their shoulders. The message from our members is clear, nearly 80% would choose to avoid a no-deal outcome. Too much information about that scenario is still missing - including from our own Government - for firms to be ready in a few short weeks," Morgan said.
He pointed out the negative impact of uncertainty on the business community but added that a disorderly Brexit could have more negative consequences.
"Seeing the impasse continue may not be comfortable for businesses, but a disorderly exit could bring unbearable disruption for firms in sectors from farming to finance, manufacturing to business services, across the UK. It is a long time since we have been in a world of easy choices, and while an extension is not an end in itself, it may become a necessity to achieve an orderly exit," Morgan noted.
The United Kingdom is set to leave the European Union on March 29. While London managed to negotiate a withdrawal deal with Brussels after months of intense talks, the parliament has been refusing to endorse the deal due to the controversial provision on the Irish border backstop, contributing to fears of a no-deal Brexit.
