BCC wants ‘decisive’ Brexit action – and reassurance » SMEInsider

BCC wants ‘decisive’ Brexit action – and reassurance

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British chambers of Commerce acting DG Head Adam Marshall has added his voice to those calling for calm this morning following the referendum vote in favour of Brexit.

“In the wake of the electorate’s historic decision to leave the European Union, the immediate priorities for UK business are market stability and political clarity,” said Dr Marshall.

“Some businesspeople will be pleased with the result, and others resigned to it. Yet all companies will expect swift, decisive, and coordinated action from the government and the Bank of England to stabilise markets if trading conditions or the availability of capital change dramatically.”

Dr Marshall reiterated the call from the CBI and others for the government to reassure businesses that a plan to coordinate the country’s orderly exit from the EU.

“Firms across the UK want an immediate and unambiguous statement from the Prime Minister on next steps, along with a clear timeline for the UK’s exit from the European Union.

“Business will also want to see a detailed plan to support the economy during the coming transition period – as confidence, investment, hiring and growth would all be deeply affected by a prolonged period of uncertainty. If ever there were a time to ditch the straight-jacket of fiscal rules for investment in a better business infrastructure, this is it.

“Businesses need action to maintain economic stability, a timeline for exit, and answers to their many practical, real-world questions about doing business during and after this historic transition.

“Firms want help to get Britain back to business at a time of great uncertainty. The health of the economy must be the number one priority – not the Westminster political post-mortem.”