Key industries will be destroyed by a tough Brexit, one of the country's most powerful executives has predicted, among other…
Key industries will be destroyed by a tough Brexit, one of the country’s most powerful executives has predicted, among other things, as Britain’s forthcoming EU exit has dampened investments by four in five companies.
Ralf Speth, Jaguar’s chief Land Rover, said that such a result would lead to the closure of plants and major job losses that he warned that certain exposed industries would have “no way to survive a tough Brexit”.
His strong involvement comes as Downing Street desperately tries to insure the business of Brexit, even though seniors like William Hague now put the chances of a no-deal result of 50%. Theresa May conducted a conference call on Friday that involved about 1
30 business data after a chaotic week that was dangerous near the brexit of Brexit calls. She told them that an emergency meeting could still be called in November to complete an agreement.
Speth stated in his statement that tens of thousands of jobs would be lost. “That’s right,” he told you for your money channel during a trip to Australia last week. “Everybody can do math. It’s very open and very transparent. It’s not just Jaguar Land Rover, but it’s also an element for the supplier industry and export industry in Britain.”
It will be very important if we see one hard brexit or no deal. The companies will disappear, the factories will be closed. There is no way to survive a tough Brexit for many industries. But I hope again that politicians see it and act in favor of their own population. “
Similarly, Hague said he believed that May was at his most precious moment for the premiership.” That’s the realistic situation, “he said.” If everyone sticks to their current position, a deal will not happen . There is not currently a majority in parliament. “
British manufacturers have particular concerns about the introduction of border controls and delays.” The phrase “as frictionless as possible” is not good for us, “said an industry figure.” We need zero friction or we have problems. “
Carolyn Fairbairn, Director General of CBI. Photography: Bloomberg via Getty Images
In the latest survey of company opinion from the CBI Employer Organization, 80% of companies reported that Brexit had a negative impact on investment decisions. Nearly two-fifths (39%) said they would trigger further contingency plans if there was no clarity next month.
Most companies said they would implement malicious contingency plans if there was no security over Brexit in December.
One in five (19%) said that the moment when the implementation of contingency plans could be stopped had already passed. The survey included 236 companies, representing 101 major companies and 135 small and medium-sized companies.
Carolyn Fairbairn, CBI’s Director General, said the Prime Minister’s negotiations were “outpaced by the reality companies face on the ground.”
“The situation is urgent now,” she said. “Unless a recall contract is locked in December, companies will press the button on their contingency plans. Jobs will get lost and supply chains will be moved.”
“The collision effect for the UK economy would be significant. Living standards would be affected and less money would be available for vital public services, including schools, hospitals and housing.
“Many companies will not publish these decisions, but their effects will appear during the lower GDP years along the line. As long as no agreement remains an opportunity, the effect is corrosive to Britain’s economy, jobs and communities.”
John Longworth and Richard Tice, from the group group, left the survey no more than “political propaganda”.
They said: “This easy survey, with a sample size of just 236 companies, is not an indication of the company’s overall mood music up and down that just wants the government to continue it,” they said. “The CBI is crudely as a mouthpiece for ruthless multinationals and political elites who are prepared to sacrifice our long-standing democracy for their own pensions and profit margins.”