Confederation of British Industry (CBI) Director General Carolyn Fairbairn has called on the UK government and parliament to overcome the Brexit deadlock since the uncertainty around the process has been corrosively affecting UK businesses and already brought investor confidence to its lowest level in 11 years
MOSCOW (Pakistan Point News / Sputnik - 17th May, 2019) Confederation of British Industry (CBI) Director General Carolyn Fairbairn has called on the UK government and parliament to overcome the Brexit deadlock since the uncertainty around the process has been corrosively affecting UK businesses and already brought investor confidence to its lowest level in 11 years.
"From the heart of business to the heart of politics, resolve this gridlock, do whatever it takes and do it fast," Fairbairn said, as quoted by The Guardian newspaper, adding that "every day without a deal is corrosive" for UK economy.
Fairbairn stressed, citing CBI surveys, that investors' confidence in the UK business sector was currently at its lowest since the 2008 financial crash, while many UK businesses have had to scrap their expansion plans and instead start stockpiling to prepare for a no-deal scenario.
The director general also highlighted that some UK tech companies and international satellite broadcasters were moving their headquarters to other European countries.
The United Kingdom was initially supposed to leave the European Union on March 29. A withdrawal deal was reached weeks before the date, but UK lawmakers have refused to pass it, with fears of a re-established hard border on the island of Ireland being one of the main points of concern.
The Brexit deadline was subsequently moved to October 31, with the United Kingdom now required to participate in the European Parliament elections if the deal is not passed by May 23.
