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IoD responds to EU27 endorsing Withdrawal Agreement

25 Nov 2018

eu flagsResponding to the EU27’s endorsement of the Brexit Withdrawal Agreement, Stephen Martin, Director General of the Institute of Directors, said:

“Today marks a significant moment in the Brexit process. After what has seemed like slow progress over the last few months, many businesses began to fear that the UK and EU might never reach a deal on the terms of our exit.

“However, this step on its own does not resolve the uncertainty for business. It is still far from clear how the UK Parliament will decide to act. The deal the EU approved today provokes a wide range of reactions across the political spectrum, and indeed among business leaders, but the steer from our members is that avoiding no deal must be the main priority.

“This means that politicians of all parties must be clear about the consequences of their choice when it comes to vote. The EU has reiterated today they will not reopen the agreement. The possibility of a second referendum splits our members, with no majority either way. There is no perfect choice in this situation, only a balance of risks and trade-offs. Ratifying a withdrawal deal is currently the surest way to deliver certainty about the immediate future when the Article 50 timeline runs out next March, as is written into UK law.”

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