Businesses press May for ‘hard Brexit’ answers

British Prime Minister Theresa May sits in the audience before delivering a speech about Brexit on day one of the Conservative Party Conference 2016 in Birmingham, England

Business groups and opposition parties pressed Theresa May for more detail after the British Prime Minister hinted she favoured a so-called hard Brexit. Such a move would entail leaving the EU and the single market entirely in exchange for curbs on freedom of movement between the UK and member states. “I know some people ask about the ‘trade-off’ between controlling immigration and trading with Europe. But that is the wrong way of looking at things,” May told delegates at this year’s Conservative Party Conference. But Carolyn Fairbairn, Director-General of the Confederation of British Industry, said in a statement that firms remained “in the dark” about issues of key importance. She said: “The government’s desire to play its negotiating cards close to its chest must be tempered by clear indications on how we will trade with the UK’s most important partner and how firms will be able to employ the people needed to drive growth.”

More from Business

  • EU seeks unity in first strike back at Trump tariffs

    European Union countries will seek to present a united front in the coming days against U.S. President Donald Trump's tariffs, likely approving a first set of targeted countermeasures on up to $28 billion of U.S. imports from dental floss to diamonds.

  • UK's Jaguar Land Rover to halt US shipments over tariffs

    Jaguar Land Rover will pause shipments of its Britain-made cars to the United States for a month, it said on Saturday, as it considers how to mitigate the cost of President Donald Trump's 25% tariff.

  • US starts collecting Trump's new 10% tariff

    U.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.

  • Nasdaq set to confirm bear market as Trump tariffs trigger recession fears

    The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.

  • Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field

    UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).

News