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Brexit & Renationalisation – Hot Topics For The CBI

It’s an interesting time for businesses in the UK right now, with all sorts of issues potentially having an impact on their operations and overall success.

But the president of the Confederation of British Industry (CBI) John Allan believes that there are two major threats to the partnership between business and government – renationalisation and, of course, Brexit.

Mr Allan is due to speak at The Brewery in central London before an audience that will include business leaders and senior politicians.

Regarding renationalisation, Mr Allan will say that Labour’s proposals to take the National Grid into state ownership will harm those the plans are intended to help.

“Labour’s proposals are not just a threat to these industries but to investment in our country at a time when it’s most needed. And above all, to that essential partnership between business and government,” he is expected to say.

As for Brexit, he is expected to say that leaving the EU has seen £800 billion pounds of financial capital moved out of the country, with our companies falling behind and international competitors surging ahead.

As such, the government must now take steps to sort out the gridlock – and fast. Parliament must seize the opportunity to bring the withdrawal bill back at the start of June and if it fails in this, “uncertainty will become far more acute”.

The bill is to be put to a vote in the Commons next month, with the cabinet now agreeing on the idea of a temporary customs relationship until the next general election, as well as measures on workers’ rights and the environment.

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