BCC comments on Article 50 extensionApril 15, 2019Commented the British Chambers of Commerce on the Article 50 extension:
“For most businesses, the ‘flextension’ agreed by the European Council will be preferable to deadlines that are repeatedly moved forward at the last possible moment.
“This extension buys Parliament some time to come to a consensus, but they can’t afford to squander it. Politicians must urgently agree on a way forward. It would be a disaster for business confidence and investment if a similar late-night drama is played out yet again in October. Our businesses and our communities need answers to plan for the future, and the government must return its focus to pressing domestic issues, which have been ignored or marginalised for too long.
“Businesses need a clear timetable and fair warning of the UK’s planned exit date, particularly those trading in countries where the UK has not yet finalised much-needed trade continuity agreements.”
A Statutory Instrument amending 'exit day' in UK domestic law will be brought forward, which will not need to be voted on. Cross-party talks between Conservatives and Labour are continuing, and Parliament is on recess until April 23.Under the terms of the extension to Article 50, should the Withdrawal Agreement be passed, the UK would leave the EU and enter into the transition period on the 1st of the following month.
BCC has called for fair warning of the UK's planned exit date should an agreement be passed, to give businesses a chance to adapt and plan for change in a calm and measured fashion. This will be particularly important for those firms trading in countries where the UK has not yet finalised much-needed trade continuity agreements.
Did you know? Members can submit their own news and events to be posted on our website. Log in to get started