March 2017

WARWICKSHIRE MEANS BUSINESS

'Hard' Brexit unlikely but not impossible, Attorney General tells Mid-Warwickshire branch

Businesses in Mid-Warwickshire have been told that a ‘hard’ Brexit is unlikely but not impossible.

The Mid-Warwickshire branch of the Coventry and Warwickshire Chamber of Commerce was given an insight into the UK’s withdrawal from the European Union by the Attorney General Jeremy Wright, MP for Kenilworth and Southam.

Wright, who campaigned to stay in the EU, told the gathered businesses that the pre-referendum arguments should not be ‘re-run’ and that politicians would lose credibility if they didn’t accept the outcome.

He told the meeting that there was a huge amount of work in unpicking 40 years of legislation drawn up alongside the EU and that the Government was working hard to ensure there wasn’t a ‘cliff edge’ moment on the day of Brexit.

Mr Wright said the aim was to offer ‘as little change as possible’ for business and to provide as much certainty during the process.

He added: “So what will Brexit mean for investment into our economy? We all have concerns about that but, since the referendum, the signals have been pretty good.

“Several major companies have announced decisions to invest in the UK despite Brexit, including Jaguar Land Rover which announced that the new Range Rover would be built in Solihull.

“Of course, none of us can say for sure how negotiations will go and what the final outcome will be because it’s not just us involved – there are 28 member states who will have their say.

“My reading of it is that, in all probability, we will not see a so-called hard Brexit but, because of the reasons I’ve mentioned, it’s not impossible.

“I don’t believe it is in the interests of the UK or the rest of Europe for it to happen but that will come down to the final deal that gets struck.”

The meeting also heard from Dave Ayton-Hill of Warwickshire County Council, which is partnering with the Coventry and Warwickshire Chamber of Commerce on its Quarterly Economic Survey, who explained the strength of the economy in the region.

He said that demand for labour in the region would grow rapidly between now and 2030 and there would be a potential 74,000 shortfall in supply.

David Myskow, chair of the Mid-Warwickshire branch of the Chamber, said: “It was a fascinating and very informative branch meeting and we are very grateful to Jeremy Wright and Dave Ayton-Hill for their insights.

“It was a great opportunity to put concerns to Jeremy Wright about Brexit and, while he did his utmost to answer questions, we have to understand that there will be a great deal of uncertainty in the coming months and years.

“That’s why the Chamber has launched a Brexit Club because we want to be able to give our members the facts as and when they emerge but also explore the opportunities available to them.”

Comments

Have your say...

Comments are closed for this article