News

Companies Poised To Activate Contingency Plans

Francis Martin, President of the British Chambers of Commerce (BCC) and Adam Marshall, the BCC’s Director General, wrote an open letter to Prime Minister Theresa May, making an urgent appeal for clarity on the government’s objectives.

BCC’s leaders urge the government to make key choices and deliver a clear statement of intent – so that businesses of all sizes and sectors can make decisions for the future.

The letter extracts:

Dear Prime Minister,

In Chamber business communities all across the United Kingdom, there are a range of views on the depth and breadth of the UK’s future relationship with the EU.

Businesses need those elected to govern our country to make choices — and to deliver a clear, unequivocal statement of intent.

The perception amongst businesses on the ground, large and small alike is one of continued division. Even amongst the many optimistic, future-oriented firms — those who see opportunity in change — patience is wearing thin. Directly affected companies are poised to activate contingency plans. Many others, worryingly, have simply disengaged.

Clear UK negotiating objectives are crucial to both business and public confidence.

A status-quo transition period, to give businesses time to plan for change, must lead to a clear endpoint. There is no room for continued ambiguity as companies make investment and hiring decisions. The government must set out its plans.
 

Ian Youngman, author of the BREXIT and Insurance report says, "The rough translation of this letter is that politicians need to sort out their strategy, stop arguing internally, and get their finger out. Insurers need to have contingency plans ready or they could lose business of companies that need to trade with Europe."

 

BREXIT & Insurance News

Log in