Director-General of CBI urges Prime Minister to provide ”some commentary” over Brexit
October 10, 2016

Carolyn Fairbairn, the Director-General of the Confederation of British Industry (CBI), has warned that Mrs May’s reluctance to provide any commentary over Brexit is leading potential investors to assume the worst with regards to Britain’s trade barriers. The CBI, Britain’s biggest business group, has warned that companies could not afford to withhold from making any decisions before Britain formally leaves the EU in 2019. Speaking in an interview with the Times, Ms. Fairbairn expressed doubts that Britain could finalise any trade deal with the EU within the two-year exit process. Furthermore, if Britain is to be governed by tariffs and barriers laid down by the World Trade Organisation (WTO), she estimates that 5,000 firms in the financial services sector will lose out as a result of not having access to the EU passporting regime.

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