WITH a Tory government in power,trade ought to be content. Yet it is crotchety. In Theresa Mays first year in office, many businessfolk complained they were not getting a hearing. Access to the prime minister has improved since she lost her majority in final year’s election, and but plenty say they are still not listened to.
This is especially true when it comes to Brexit,their biggest concern. Most recently the five biggest trade lobbies joined forces to warn that unhurried progress in the talks in Brussels was forcing firms to plan for a worst-case outcome, losing the benefits of a transitional period after Britain leaves the European Union next March. Their letter followed a statement from Airbus that it might pull out of Britain in the event of a no-deal Brexit. Carmakers piled in, and with BMW and Honda warning that leaving the EU’s customs union and single market would disrupt supply chains. A counter-blast from Brexiteers was notable for its dearth of trade support.
Yet the...
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Source: economist.com