PM May to Hold Business Council to Discuss Brexit

On Thursday, U.K. Prime Minister will hold a meeting with business leaders that would discuss Brexit and the economy and listen to their concerns regarding Britain’s departure from the European Union.

May to consult with companies

This will be the very first time that May will chair a meeting at a business council to discuss anything about Brexit and the economy in general. Business leaders of big businesses have been criticizing May on her Brexit strategy. 

The business leaders are expecting a clear advisory from the government with regards to transitional arrangements to aid them in making investment and business decisions. Britain is set to finalize the transition by 2019.

Development of a modern industrial strategy

According to a spokesman of U.K.’s prime minister, “Theresa May will tomorrow chair the first meeting of a new business council, which will provide a direct link to business on the government’s Brexit strategy, as well as looking at wider issues such as the development of a modern industrial strategy and steps to boost the nation’s economy.” 

The idea of creating a business council is to conduct a regular series of meetings which shall be held at the Prime Minister’s official Downing Street residence. The discussions would concentrate on the conditions surrounding the departure of U.K. from the EU. Present and potential economic issues would also be given emphasis and the government strategy specifically with the business and industrial sector would be deliberated.

High profile guests from the government and business sector

The council would create a direct link to the U.K.’s Prime Minister and any concern regarding the ongoing Brexit transition. Some of the high profile guests from the government and business sector are the current Chancellor of the Exchequer Philip Hammond, Business Secretary Greg Clark, and Junior Brexit Minister Robin Walker, Stephen Martin from the Institute of Directors, Mike Cherry from the Federation of Small Businesses, Carolyn Fairbarn from the Confederation of British Industry, Dave Lewis from Tesco, Paul Manduca from Prudential, Ralf Speth from Jaguar Land Rover, Roger Carr from BAE Systems, Francis Martin from the British Chambers of Commerce, Luke Johnson from Risk Capital, Kathryn Parsons (CEO of Decoded), and John Pettigrew (CEO of National Grid).

Experts are commenting that the formation of the business council is a good move from the Prime Minister since it was noticed that there were no consultations conducted even before the start of the Brexit negotiations. 

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