This morning’s announcement that sufficient progress has been made for the next phase of Brexit negotiations to start will be welcomed by industry.
However, agreement on a transition period of at least two years must be reached as soon as possible, giving businesses the certainty they need to make investment decisions with confidence.
ADS Chief Executive Paul Everitt said:
“The start of formal negotiations on a transition period and the UK’s future trading arrangements with Europe will be welcomed by businesses up and down the country.
“Today’s announcement is an important step towards agreeing the good deal that will be essential to securing the UK’s future prosperity after Brexit.
“Continued uncertainty over arrangements for a transition period benefits no-one and it is vital that both parties make formal commitments as soon as possible to a transition lasting at least two years, allowing businesses to continue to invest in our economy with confidence.”
In November, ADS wrote to David Davis, Secretary of State for Exiting the European Union, and Michel Barnier, European Chief Negotiator, to urge both parties to reach an agreement at December’s European Council meeting on the length and shape of a transition period.
To see this letter setting out ADS industries’ priorities for the transition period, visit: https://www.adsgroup.org.uk/reports/letter-david-davis-michel-barnier/