UK business shows 'deep concern' over Brexit in letter to PM

The UK’s five main business lobbies have urged the Prime Minister in a letter to make progress in the Brexit negotiations or risk losing jobs and investment.

Their missive reinforces the warnings from European companies such as Airbus and BMW that said they would pull out of the UK business in case of a no-deal Brexit.

The CBI, the Institute of Directors, the British Chambers of Commerce, the EEF, and the Federation of Small Business penned a joint letter on the second anniversary of the Brexit referendum warning of the risks that failing to clinch a deal would pose.

"In the absence of clarity, businesses will inevitably have to implement plans for a worst-case scenario, which could cost the U.K. economy billions of pounds, thousands of jobs and leave many families without a main income," they said.

"An increasing number of companies have made clear that in the face of uncertainty, they are now actively considering moving substantial volumes of work away from the U.K." They added.

This statement references Airbus' warning last week threatening to withdraw from operations in the UK if the government failed to secure a deal with the EU protecting them. A similar warning came recent from BMW, who said it would have to start making contingency plans.

Those were but two of the European companies who employed thousands of UK citizens and were ready to 'pull the plug' if an unsatisfactory divorce for business were to occur.

In response to the letter from the top UK business lobbies, and warnings from European firms, Health Secretary Jeremy Hunt told the BBC on Sunday: "It's completely inappropriate for business to be making these kinds of threats."

He has also urged business to "get behind May" and not undermine her work by issuing warnings and advised people to ignore the "siren voices" who say Brexit is a disaster.

Various UK media outlets reported that the Foreign Secretary was harsher in his comments saying "F*** business" in a Foreign Office reception a few days ago. He was also reportedly overheard talking about Theresa May’s moves towards a softer Brexit and saying: "We will fight it and we will win".

Theresa May, who has only just survived a revolt in the Commons over the "meaningful vote" for Parliament faces further pressure this week as European leaders hold a summit in Brussels on 28-29 June where Brexit is expected to figure prominently.