5 July 2016 09:00
Business groups call for calm as EU storm rages
The UK's major business groups are calling on the Government to minimise uncertainty as the fallout after the EU referendum continues.
"The impact [of the referendum] cannot be underestimated and will take time to understand. Many people, including the UK's thousands of businesses, are asking what this means for them and the people who depend on them. What we need is a plan. The Government must act with urgency to minimise the uncertainties that affect investment decisions and slow job creation."
Fairbairn has called for the Government to seek to "protect tariff and barrier-free access to the Single Market, ensuring companies are able to continue to attract the best people to the UK with the skills we need, while recognising public concerns about immigration".
Dr Adam Marshall, acting Director General of the British Chambers of Commerce (BCC), said:
"Businesses across Britain want a steady stream of communication from the Government and the Bank of England, with stability, clarity and action the watch-words for firms.
"So far, the priority for the chancellor and the governor has rightly been the question of stability, as markets and firms digest the electorate's decision. However, attention swiftly needs to turn to delivering clarity. While it is prudent for the UK Government to delay firing the starting gun on negotiations with the European Union, firms want a clear timetable, and simultaneous action to support the wider economy."
The Federation of Small Businesses (FSB) is urging the Government to focus on the needs of the UK's small businesses. Mike Cherry, FSB National Chairman, said:
"I will continue to push for immediate action to reassure small businesses so they can continue to trade and do business. Smaller firms need simple access to the single market, the ability to hire the right people, continued EU funding for key schemes and clarity on the future regulatory framework. This is crucial to ensure economic growth and job creation."