Businesses say U.K needs "shot in the arm" after Brexit
Open letter from major business groups asks for reaction to uncertainty in financial quarters
- Letter signed by British Chambers of Commerce, the CBI and others
- Some businesses have signalled their intention to move jobs out of Britain following referendum result
The British government has been urged to quell the political and economic uncertainty surrounding the result of the EU referendum by a collection of business groups.
In an open letter from the British Chambers of Commerce, the CBI, the Federation of Small Businesses, the Institute of Directors and the manufacturers' organisation EEF, they ask for more clarity on the issue of EU national employees and future infrastructure projects.
They ask for more clarity on the issue of EU national employees and future infrastructure projects.
The business groups stated that addressing these issues would provide a much-needed "shot in the arm for business confidence" in the U.K.
Recent surveys have shown that confidence in British businesses fell rapidly after the decision to leave the European power bloc.
Much of the letter focused on the treatment of foreign nationals and how a clearing up of their residence rights would allow them a more level playig field.
The abuse directed against EU nationals living in the UK needs to stop according to the letter and a "clear and unequivocal reaffirmation" of their residence rights "both because it is the fair thing to do and because their skills are crucial to the success of our businesses".
The business groups also applied pressure on the issue of the delay on a decision on airport expansion after the poll. "It must not set the tone for other critical housing, road, rail, energy and digital schemes", saying these investments were crucial given the impact on employment, regional growth and prosperity.
A Cebr poll showed the percentage of businesses which were pessimistic about the economic outlook over the next 12 months sat at 49%.
The country's vote to leave the EU has caused widespread political chaos, a plunge in the value of the pound, and cast doubt over the economic prospects in the area.
