News | Published January 23 2019

Arrowmax Engineering and Cryogenic Ltd discuss no-deal as May refuses to rule it out

Theresa May has again refused to rule out the possibility of Britain leaving the European Union without a deal if one is not agreed by March 29th. During Prime Minister’s Questions today, she argued that delaying Brexit would not “solve the situation,” adding that “the decision remains the same – the deal, no-deal or no Brexit.”

Jeremy Corbyn had previously stated, after May survived the confidence vote, that he would not engage in cross-party talks until no-deal was removed from the table. Responding to May’s refusal to do so, he accused the prime minister of “running down the clock on this [Brexit] by threatening no-deal as an alternative to her dead deal.” He also stated, borrowing a line used earlier this week by Hilary Benn, that “while the door to her office may be open, apparently the minds inside it are completely closed.” 

Later on in the session, while discussing the customs union, Corbyn claimed that both involvement in the customs union and ruling out a no-deal Brexit would command support from the majority of MPs. He argued that “While a third of her government are at the billionaires’ jamboree in Davos, she says she’s listening, but rules out changes on the two issues where there might be a majority – against no-deal, and for a customs union, part of Labour’s sensible alternative.”

British businesses also remain divided over the effect of a no-deal result. Jeremy Good, of Cryogenic Ltd, supports such an outcome, believing that a deal could always follow after. As an exporting manufacturer, with 20 per cent of their sales going to the EU, he expects “to continue to sell into Europe without difficulty.” 

Addressing the possibility of a no-deal outcome directly, and commenting on the state of the Brexit negotiations thus far, he argued that: “Politically I am not impressed by what has been agreed with the EU, as are many observers. We would have no influence but remain very tightly contained within the EU constraints which seems very unfortunate and will cause long term damage. I think that what the government will, and should, do is to wait out the agreement and see if things move on the EU side. If not a managed exit, leaving things much as they are now without the present deal may be very attractive. The deal or something like it can always be resuscitated after we have departed on the 29th without much difficulty.”

Ryan Ward, of Arrowmax Engineering Ltd, voted remain and views a no-deal outcome as particularly damaging. When asked about his views on such a scenario, he said: “Getting back to the deal, I did believe that any deal would be better than a no-deal. I see a no-deal as particularly damaging due to the lack of planning and time consuming trade agreements that we would need to have in place. I believe it would take years to get the right deals in place, whilst turning our back on agreements that have evolved over decades via the EU.”

Authored by

George Salmon
Business Editor
January 23 2019

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