London cannot guarantee the future of the British business after Brexit | Finance and Markets

Share This On Social

The UK can not tell the British business for sure what will be the relationship with the European Union after Brexit. This was stated by British Secretary of State for Business, Energy and Industrial Strategy, Greg Clark.
“These are negotiations that follows. We can not guarantee the final situation until it is agreed by both sides”, said Greg Clark in an interview. The minister also did not specify neither what London will require in its negotiations with the EU, nor when the government would be ready with its possible position.
Greg Clark’s comment came after the British Chamber of Commerce issued an open letter to the government earlier this week that its patience over London’s lack of clarity was exhausted. It says that “the business needs those who are elected to govern the country to make decisions”. The representatives of the UK business are asking the authorities for more clarity about London’s trade and customs relations with the EU after 2019.
The letter, signed by the British Chambers of Commerce’s President Francis Martin and its Chief Executive Adam Marshall, states that all 75,000 members of the organization have the feeling of “continuing split” at the top of the government.
“Even among the many optimistic, forward-thinking companies – those who see opportunities, the patience is ove”, says the text.
Many representatives of the business are afraid that the UK could reach the so-called Brexit without an agreement that would lead to a number of undesirable consequences such as weakening Western positions, breaking the peace in Northern Ireland, and undermining of London’s position as a global financial center.
The UK has already agreed on a basis with the EU having a transition period after leaving the community, the terms of which are expected to be cleared by March.