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More than 70 British business groups representing more than 7 million workers have made one last attempt to persuade politicians to come back to the table next week to reach a trade deal between the EU and the UK.
Organizations from across the British business world in the automotive, aviation, chemicals, agriculture, pharmaceuticals, technology and financial services sectors have come together to urge both parties to find a compromise on trade terms.
The bosses were alarmed by Boris Johnson’s decision to end talks with EU negotiators on Friday and fear that what they see as a clear need for a deal to protect jobs and investment will be sacrificed for political reasons.
The groups, ranging from CBI, TheCityUK and techUK to the National Farmers Union, the British Retail Consortium and the Society of Car Manufacturers and Dealers, said securing a speedy settlement “is very important for employment and livelihood “.
In a statement they said: “With commitment and tenacity, an agreement can be reached. Companies are asking leaders on both sides to find a route. “
Executives have warned that many companies are unprepared for the disruption, red tape and expense of having to trade with their EU counterparts next year.
Smaller companies, in particular, are struggling to prepare for a no-deal outcome as they seek to survive the economic downturn caused by Covid-19.
A member survey conducted by the Institute of Directors this week showed that nearly a quarter of companies may not be ready by the end of the transition period. Almost half said they were not fully prepared.
The group of trade organizations, which represents some 190,000 companies, said an ambitious deal would have an instant impact on efforts to prepare for the end of the Brexit transition period in December.
“It will help investment by eliminating the threat of tariffs and quotas. And it will catalyze trust through enhanced customs cooperation while enabling a valuable data deal, vital to the service industries that account for 80 percent of the UK economy. “
More than three-quarters of UK companies say they need a quick deal, according to the groups.
“With each passing day, business resilience fades.”
“It is absolutely clear that no one is interested, and certainly not patients, facing the future with uncertainty about how medicines will be regulated, tested and shipped in Europe and the UK,” said Richard Torbett, executive director of the Association of British pharmaceutical industry.
Paul Everitt, CEO of ADS, warned that the UK aerospace, defense, space and security industries would face significant disruption without a deal “through delays in cross-border trade, costly administrative requirements and a new regulatory system. “.
He added: “Companies in our sectors face a daily struggle to survive as a result of the Covid-19 crisis, which has put 30,000 aerospace jobs at risk.”
Steve Elliott, executive director of the Chemical Industries Association, which represents companies responsible for half a million jobs, said the industry needed a deal.
“In regions and areas such as the North East, Humber Bank and North West England, as well as Central Scotland and South Wales, the chemical sector is critical to local economies in terms of high skill, productivity and good payoff. jobs.”
Terry Jones, Managing Director of the NFU England and Wales, said: “The EU, as a single trading bloc, is the most important international market for UK agri-food products, and given its size and proximity it will continue to be so in the future. That is why it is vitally important that a tariff and quota-free agreement is reached as soon as possible. “
