The Secretary General of the world’s largest business organisation has warned that the possibility of UK to exit the European Union without a ‘Brexit deal’, not only will it bring various barriers to the international trade, but it will also result to many British loosing their jobs. Under this discussion, UK Government has published four possible ‘no-deal’ Brexit scenarios.
Specifically, John W.H. Denton AO noted that ICC has repeatedly supported the UK to agree to the closest possible trading relationship with the EU, in order to keep cross-border trade as frictionless as possible.
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Moreover, ICC urges the members of Parliament to search for the ideal compromises in order to make sure that the exit will take place under a deal with the EU.
Also, the Secretary General commented that
It is crucial that UK and EU leaders reach a deal that provides clarity to business and protects the livelihoods of those who depend on a vibrant and competitive UK economy.
He continued stating that a no-deal scenario will bring instability to the country and will implement important hardship on UK businesses.
Globally, the ‘no-deal scenario’ poses threats to the international supply chains at a time when protectionism is already undermining global growth, as Maritime UK has stated in the past.
In conclusion, the Secretary General reported that the ideal UK exit from the EU, is an orderly one, as it provides certainty for everyone in the UK, along with its trading partners and global businesses.
