UK businesses would welcome delay to Article 50 Brexit process

Carolyn Fairburn

With parliament in turmoil and the prospect the UK could potentially be facing an extension to Article 50, businesses would welcome a delay to Brexit.

The director-general, Dame Carolyn Fairbairn of the Confederation of British Industry (CBI) said on Thursday that British companies would welcome a delay to Brexit.

She said, “From the political turmoil a small chink of light for business, most firms back an extension over the known harm of no-deal.

“Yet, with an election looming, many remain deeply concerned about the ongoing impact of uncertainty on the economy.”

But Fairbairn warned, until a deal was agreed with Brussels, British companies will continue to divert “billions of pounds from productive investment to no-deal preparations.”

She added, “Whatever happens next, any delay must have purpose and be used to rediscover a spirit of compromise in Westminster to stop a political crisis from becoming an economic one.”