June 09, 2017

CBI: The business response to the General Election 2017 results

The CBI has updated its response to the General Election results, following an agreement between the Conservative party and DUP to form a new Government.

Carolyn Fairbairn, CBI Director-General, said:

“With a new Government, there has never been a more important time to refocus on the economy and plan with confidence and ambition. The next Government needs to deliver an open, competitive and fair post-Brexit economy that works for everyone across all our nations and regions.

“This can only be achieved if the next government doesn’t put the brakes on business, remains open to the world and sets out a pro-enterprise vision.

“We need to move much faster to fix the foundations of the UK economy and our productivity problem. We need meaningful progress on a modern industrial strategy by the end of the year, with real change on the ground on skills, infrastructure and innovation.

“With only ten days before Brexit talks begin, the UK needs to be fast out of the blocks. Agreeing transition arrangements and guaranteeing EU citizens’ rights should be early priorities to get the talks off to a good start and show to the world that trade and people come first.

“Firms will support the UK develop our inclusive, innovative and open economy. More than ever, the new Government must work together with business to make the most of the opportunities ahead. Firms can provide the evidence, ideas and solutions from the shop, office and factory floor to secure our future prosperity.” 

Source: CBI


June 09, 2017

BDI President comments on the outcome of the parliamentary election in the UK

Regarding the outcome of the parliamentary election in the United Kingdom, the President of the Federation of German Industries (BDI) Dieter Kempf said: A weakened government does not make the difficult starting position for the Brexit discussions any easier.

“Germany‘s industry is worried about the election results. A weakened government does not make the difficult starting position for the Brexit discussions any easier. The British government has a responsiblity to negiotiate reasonable agreements in order to limit the damage on both sides of the channel for citizens and businesses.

The hard Brexit course has been voted out. It is time for the British government to de-escalate its rhetoric. A failure of the Brexit talks would be the worst scenario. The British economy in particular will suffer as a result of such a separation.

The negotiating partners must not lose any more time. Speed is of the essence. The negotiating partners only have one year to agree on a withdrawal agreement and transitional arrangements.  

10 Downing Street must prevent a vacuum at the time of withdrawal, otherwise there is a risk of a disruption of production. For industry, a speedy agreement regarding the legal status of EU citizens in Great Britain and Northern Ireland and British citizens in the EU27 is of fundamental interest. Companies are already complaining about the high degree of uncertainty involved in sending employees to the United Kingdom. This is particularly the case when the posting is due to end after 29 March 2019.”

Source: BDI