Greg Clark, the business secretary, has called the possibility of a no-deal Brexit a “dire prospect” that is causing fear among businesses across the world.
His latest intervention is a sign of a growing cabinet split over how the government should respond if its Brexit deal is voted down next week. Theresa May has repeatedly refused to rule out leaving the EU without an agreement, while other ministers are actively calling on her to pivot to this approach if the Commons rejects her plan.
Writing for Politico, Mr Clark said:
“In recent weeks, confidence from investors has been shaken. Debates in the UK parliament are monitored closely, and with mounting alarm, in boardrooms around the world.
The dire prospect that we could tolerate trading with our largest and closest market on WTO terms — the most rudimentary that exist between any nations on earth — is bewildering to them.
And when hundreds of millions of pounds are having to be diverted by companies from productive investments into defending themselves against the risk of a no-deal exit from the European Union — through piling up stocks, renting warehouses and planning shutdowns of production — investors have every right to object.”
from All Top Viral http://bit.ly/2SLFX8P
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