Commenting on the outcome of the Brussels summit, Terry Scuoler, Chief Executive of EEF, the manufacturers’ organisation, said:
“The warmer words emerging from the European Council following the approach adopted by the Prime Minister suggest there is a glimmer of light at the end of this tunnel. Business needs to see more than a hint of progress, however, because serious planning for transitional arrangements should be taking place now if companies are to firm up their business plans and pin down investment.
“Firms in the UK and across Europe are united in seeking clarity on a transition deal that maintains a level playing field in order to avoid confusion and potential economic damage. Time is moving and without greater political certainty businesses will form their own conclusions and plan accordingly. That is why work on agreeing a transition needs to start now and businesses will redouble their efforts to encourage leaders in the UK and the EU to do that.”