Skip to content
Thursday 13 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
MorningWire

European business, markets and politics

FTSE 100
10,757.90
-0.69%
DAX
26,292.00
-0.15%
CAC 40
8,649.89
-0.29%
STOXX 50
6,544.28
+0.16%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Monday 24 September 2018 1:54 pm  |  Updated:  Tuesday 21 May 2019 4:26 pm

Jacob Rees-Mogg tells businesses to stop living in ‘cloud cuckoo land’ over Brexit

By: Owen Bennett

Add as a preferred source on Google

NULL

   Leading Brexiteer Jacob Rees-Mogg has called on businesses to stop living in "cloud cuckoo land" and accept Brexit will mean changes to how they operate.

The Conservative MP was backed up by former Brexit secretary David Davis, who claimed top firms such as BMW should be able to cope with extra hours delays at customs.

The comments were made at the launch of a detailed report by the Institute of Economic Affairs (IEA) setting out an alternative negotiating strategy to the government's ill-fated Chequers proposal.

The IEA's vision would see the UK strike a free trade deal with the EU, as opposed to Britain signing up to Brussels' rulebook on goods.

Read more: IEA urges Theresa May to ditch Chequers for its alternative 'Brexit prize'

Such a plan could see extra customs checks taking place at the UK border, but Rees-Mogg dismissed the impact this would have on businesses.

The North East Somerset MP said: "Six seconds of delay in goods coming in via Southampton, well, you get longer delays when there's a minor traffic jam on the M25 for just-in-time delivery so you have to contextualise this.

"You have to accept the fact we are leaving the European Union and therefore it will be different.

"To try to pretend it will be the same once we've left is cloud cuckoo land, that's not what people voted for."

Sitting alongside him on the panel in Westminster, Davis also suggested businesses could cope with any delays, and it was important not to "exaggerate" the impact of any additional customs checks.

Institute For Economic Affairs Launches Alternative Brexit Plan
Former Brexit Secretary David Davis is backing the IEA's plan (Source: Getty)

Reflecting on BMW's decision to bring a planned maintenance shutdown of its Oxford plant forward to coincide with the day the UK leaves the EU, Davis said: "If they can handle weeks of delay because of maintenance, why can't they handle hours of delay because of an irritating French customs official?"

The IEA report calls on the UK to open free trade negotiations with the US, India and China in bid to put pressure on Brussels in the Brexit talks.

The plan, which has the support of former Brexit minister Steve Baker and former international trade minister Greg Hands, was unveiled just hours before Theresa May chairs a meeting of her Cabinet.

It will be the first get-together of her top team since the disastrous conclusion of last week's Salzburg summit of EU leaders, in which her Chequers proposal was roundly dismissed.

Rees-Mogg urged the PM to ditch her plan in favour of the IEA proposal.

"The Prime Minister is a lady of singular wisdom and therefore is likely to recognise the reality that Chequers doesn't have much support either in this country or abroad and this plan solves all her problems," he said, adding: "With her wisdom and insight I'm sure she will be thinking very carefully about adopting it."

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Politics

Related Topics

  • Brexit
  • People
  • Theresa May

Trending Articles

  • Five-star Mayfair hotel hit with HMRC winding-up petition

  • It’s not just Jason Arday, most of sociology is a scam

  • IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details

  • Revolut takes flight with launch of new airport lounges

  • As it happened: FTSE 100 falls as Iran and US clash over Strait of Hormuz; Oil stockpiles ‘rapidly depleting’

More from Morning Wire

  • Jacob Parsons Appointed Global CEO of Indicium AI

    Business Wire
  • As it happened: Stocks rise despite IEA warning of ‘critical’ oil issue

    Markets
    North Sea oil terminal with storage tanks and docking facilities under a clear sky, highlighting energy infrastructure.
  • Trump and Infantino: The venomous relationship between sport and politics

    Sport Business
    GettyImages 2250174638 likely features a relevant business scene or newsworthy event, fitting for a general news article c...
  • Europe has made a ‘major mistake’ on slow electrification, IEA chief warns 

    Energy
    UK industrial electricity prices are the highest in the G7 and 46 per cent above the average of the International Energy Agency.
  • AI powerhouses are betting on London’s future

    Opinion
    Aerial view of Kings Cross St. Pancras station and square, London, with people, buses, and surrounding buildings.
  • As it happened: Stocks rises as oil eases but Strait of Hormuz concerns ramp up

    Markets
    Aerial view of ships navigating the strategic Strait of Hormuz, highlighting its importance to global maritime trade routes
  • IMF offers UK modest growth upgrade despite fresh Iran war tension

    Economics
    Rachel Reeves delivering Spring Statement 2026 at UK Parliament, addressing economic policies and fiscal strategies.
  • Brightfin Helps Federal Agencies Plan IT Finances Faster and Cut Telecom Costs Through Knox’s FedRAMP Platform

    Business Wire
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook