Brexit date set amid calls for reassurance on trade

October 03, 2016

UK prime minister Theresa May will start the two-year process of leaving the EU by the end of March 2017, kick-starting two-years of complex Brexit negotiations. May said yesterday that she wanted to give a 'greater degree of clarity about the sort of timetable we are following' over the process for leaving the EU. This includes plans for a ‘repeal bill’ to convert all EU regulations into UK law as soon as Brexit takes effect, with future governments then able to change laws as required. She said: 'Crucially, we still do want to have a good relationship with Europe and the European Union.' The prospect of lengthy negotiations has raised concerns among manufacturers who want short-term clarity on the UK’s trading relationship with Europe so they can make long-term decisions about factory locations and output. Nissan chief executive Carlos Ghosn said at the Paris Motor Show last week that he would halt new investment in Britain without a pledge of compensation if tariffs are introduced on UK-built cars. Jaguar Land Rover said it would have to ‘realign its thinking’ on investment while uncertainty continued and insisted any compensation had to be fair to create a level playing field for all carmakers. The firms are the latest in a string of manufacturers to warn that tariffs would harm investment in vehicle production in Britain.




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March 31, 2017

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