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Government urged to retain access to single market in Brexit negotiations

By Staff Reporters

Published 28/09/2016

Institute of Directors head Simon Walker
Institute of Directors head Simon Walker

Some of the City's biggest business groups have urged the Government to redouble efforts to maintain single market access, take a "sensible" approach to immigration and reject protectionism in Brexit negotiations.

The comments, which come from the likes of the Institute of Directors (IoD), the City of London Corporation and TheCityUK, come ahead of the 100-day anniversary of Britain's decision to quit the European Union.

Simon Walker, director general of the IoD, said: "The Government must set out a positive vision for a free-trading Britain which is open to talent from anywhere in the world.

"That means resisting calls for protectionism and taking a sensible approach on immigration which recognises that in order to succeed, British companies need the skilled workers from the EU and beyond."

Mr Walker also said that since the initial shock of the Brexit vote is wearing off and companies are feeling more optimistic, the Government must move quickly to underpin business confidence and ensure Britain remains open.

The IOD director general urged Chancellor Philip Hammond to introduce measures in the Autumn Statement to encourage businesses to spend.

"In the short-term, the Chancellor needs to take steps at the Autumn Statement, like raising the annual investment allowance to £1m a year, that will encourage business to spend," Mr Walker explained.

Belfast Telegraph

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