Business leaders prepare to meet with Prime Minister and chancellor to discuss Brexit
Business bosses are set to meet with Prime Minister Theresa May and chancellor Philip Hammond this afternoon amid rising concerns about the nature of Britain’s exit from the EU.
Around 130 executives are set to attend this afternoon's meeting as businesses prepare to grill the pair about Brexit and Budget issues.
“It’s part of regular engagement we have with business, it’s an opportunity for them to ask questions of the PM and, of course, of the chancellor, about anything they may be interested in,” May’s spokesman told Reuters.
“Of course, Brexit may well be raised.”
It comes as May attempts to secure agreement for her Chequers deal, despite EU leaders previously saying the strategy has serious flaws.
While around 90 per cent of a Brexit deal is agree, according to politicians, major obstacles remain including the question of an Irish backstop to prevent a hard border between the Republic of Ireland and Northern Ireland.
Five months remain to secure a deal before the UK’s scheduled departure at the end of March next year.
But the UK will have to fall back on World Trade Organisation rules if it falls out of the EU without an agreement.
Businesses will demand a 21-month transition period after the UK leaves, according to Reuters.
Brexit secretary Dominic Raab claimed a deal is “firmly in sight” last week.
“While obstacles remain, it cannot be beyond us to navigate them,” he wrote in a letter to the Brexit committee on 24 October, it emerged today.
The meeting comes two days after the Budget was unveiled.