The CBI has proposed transitional arrangements beginning when the Article 50 process ends, to provide firms with continuity and certainty.

ADS Chief Executive Paul Everitt said:

“We strongly support the CBI’s proposal. Businesses are facing a period of uncertainty as the Government negotiates our new relationship with Europe. This uncertainty threatens the long-term investment that creates jobs and growth in every part of the country. Decisive action to minimise disruption and offer businesses a smooth, predictable transition would support continued investment in the years ahead.

“The political context in the UK and elsewhere in Europe has changed, and we now have a vital opportunity to refresh our approach. The Government needs to build a strong consensus on the priorities and options for a successful Brexit. These should include the UK’s continued participation in European research programmes, access to the skilled labour we need to compete, and frictionless trade without burdensome customs procedures or time-consuming checks.

“No deal is the worst outcome for the UK and Europe. Finding the best agreement will require compromise and pragmatic decisions by the UK and its European partners.”

Read more about the CBI's proposal, delivered by Carolyn Fairbairn, CBI Director-General, and Rain Newton-Smith, CBI Chief Economist, in a lecture at the London School of Economics.