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Deal or no deal: Companies prep for Brexit

Neil Hodge | August 20, 2018

While the U.K. government and the European Commission continue to thrash out what kind of Brexit outcome might be acceptable to at least themselves, major companies are already preparing for the worst-case scenario of a “no deal” exit from the European Union (EU).

The lack of enthusiasm from the European Commission over British Prime Minister Theresa May’s proposals published in July has led to heightened concerns that the U.K.’s split from the European Union will not be a harmonious one, and that time is against both parties to cobble together a satisfactory agreement that works in practice.

Business groups and industry bodies like the Confederation of British Industry (CBI) and the Association of British Insurers (ABI) have long voiced their concerns about the direction in which the Brexit negotiations should go and have overwhelmingly spoken out in favour of as soft a Brexit as possible to ensure continuity of service under broadly similar regulations.

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