ADS: Brexit delays could cause ‘full blown economic crisis’
ADS Group chief executive criticises ‘poorly managed political process’ and says ‘no deal’ threat must be removed
Continued delays to the Brexit process could turn political failure into a full-blown crisis, according to the UK trade association for the aviation, defence, security and space industry, ADS Group.
Theresa May today (February 26) promised MPs a vote which will could result in delays to the UK's departure from the EU or will rule out a no-deal Brexit, should they reject her deal next month. She has promised to put her withdrawal agreement to MPs in a vote by March 12. A further two votes on March 13 would consider a no-deal Brexit and on March 14, a potential extension to the Article 50 negotiation process, taking it beyond 29 March.
ADS’ chief executive, Paul Everitt, warned the continual delays and poor management of the Brexit process were proving damaging to businesses. He said: “The decision to leave the European Union was always going to be difficult to implement. The UK business community had hoped an effectively managed exit would minimise cost and uncertainty and protect our trading relationship with our European partners
“Today we are able to track the very real economic damage being caused by a poorly managed political process of agreeing the Withdrawal Agreement and Political Declaration. The continued delay is turning the UK’s political failure into a full-blown economic crisis
“It is essential the threat of a no deal Brexit is removed, a firm transition period is secured and negotiations on the UK’s future relationship with the European Union commenced at the earliest opportunity.”