Business leaders today urged Theresa May and other politicians to rip up their Brexit “red lines” and get a deal through soon.
The call was led by Tesco chairman and Confederation of British Industry President John Allan, who said the flexible extension to October 31 has been met with mixed feelings among businesses. He said: “It would be great to erase red lines and for people to start thinking about the national interest as opposed to party interest.”
Mr Allan said companies have spent “billions of pounds” preparing for a no deal, adding: “I think business will be delighted there isn’t going to be no deal but those costs … a lot of them are going to be continuing.
“Because this isn’t a definitive extension until October 31, it’s a kind of backstop … other things could happen in between.”
He added he would back a second referendum as a way of breaking the impasse, saying: “My personal view is if the politicians can’t get their act together and get an agreement, the only other option is to go back to the people.”
The Federation of Small Businesses said its members were being “driven to despair” by the revisions to the deadline.
Chairman Mike Cherry said: “Extensions do avoid a cliff-edge. What is a problem, however, is that these extensions provide no comfort that there will be an end to debating, dithering and delay.”
Miles Celic, chief executive of lobby group TheCityUK, said: “The UK should embrace the extension offered, but recognise that this cannot be just another hollow postponement.”
He warned against prolonged uncertainty because of its impact on jobs, assets and investment.
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