Business secretary Greg Clark says no-deal Brexit would be ‘mistake that we would regret for ever’
Business secretary Greg Clark has warned that a no-deal Brexit would be a “mistake that we would regret for ever”.
"The prospects of a disorderly Brexit are very severe for every part of the country and I think it’s entirely reasonable for companies who know what they need and the consequences they face, who invest billions of pounds in this county and employ hundreds of thousands of people, to share that analysis. If they were to point this out afterwards, they would be criticised for having not spoken up,” he told the Times.
Clark said he hoped both Brussels and London could get together to prevent a no-deal, which he said would be harmful to the EU economy as well.
“Conversations that I’ve had suggest there is a recognition that a no-deal Brexit on the 29th March would be a disaster for this country, but it would also be deeply damaging for other countries in the EU . . . I think there is a willingness to try to solve this,” he said.
His views were echoed by Bank of Italy governor Ignazio Visco who also sits on the European Central Bank governing council.
In a speech in Rome today Visco said: “any financial markets malfunctions could have major repercussions for all the countries involved and this issue is currently being looked at very closely”.