PM Theresa May Seeks To Calm Fears Over Brexit

PM Theresa May Seeks To Calm Fears Over Brexit
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Speaking at the annual  in London, British Prime Minister Theresa May has told business leaders in the UK that while leaving the European Union creates uncertainty in the market, there will also be opportunities for dynamic trading agreements.

She has hinted that the Government will seek a transitional Brexit deal when negotiations with the EU begin in order to avoid the “cliff edge” that businesses fear.

She said that her government would invest an extra $2.5bn in science research and development by 2020, and committed to plans of the previous government to introduce a 17 percent rate for corporate tax – tConfederation of British Industry conferencehe lowest in the G20. She also stated that the Government is preparing to take action to tackle problems with executive pay and accountability.

“Today, Britain has firms and researchers leading in some of the most exciting fields of human discovery,” she said.

“We need to back them and turn research strengths into commercial success.”

Business leaders voiced concerns to the prime minister on Monday about the impact of Britain’s departure from the EU, and the uncertainty surrounding the country’s future trading terms with member states.

“Businesses are inevitably considering the cliff-edge scenario — a sudden and overnight transformation in trading conditions,” said Paul Drechsler, CBI president.

 

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