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| CBI: Brexit delay 'could only be a stay of execution' | CBI: Brexit delay 'could only be a stay of execution' |
| (32 minutes later) | |
| Business groups have welcomed Parliament voting to seek a delay to Brexit. | Business groups have welcomed Parliament voting to seek a delay to Brexit. |
| But the CBI said that without a "radically new approach" to Brexit, a delay was only "a stay of execution". | |
| The British Chambers of Commerce added that it "leaves firms with no real clarity on the future." | |
| The pound fell a third of a cent against the dollar immediately following the vote. | |
| The fall follows a climb to nine-month highs against the US dollar and a nearly two-year high against the euro after a vote on Wednesday. | |
| Currency: Pound vs dollar | Currency: Pound vs dollar |
| The latest vote came after MPs rejected Theresa May's withdrawal agreement for the second time and then ruled out a no-deal Brexit. | |
| However, business groups remained sceptical about the Brexit process. | |
| Josh Hardie, CBI deputy director-general, said: "After an exasperating few days, Parliament's rejection of no deal and desire for an extension shows there is still some common sense in Westminster. But without a radically new approach, business fears this is simply a stay of execution." | |
| Dr Adam Marshall, director general of the British Chambers of Commerce (BCC), said: "Once again, businesses are left waiting for Parliament to reach a consensus on the way forward and are losing faith that they will achieve this. | |
| "In the meantime, firms are continuing to enact their contingency plans, anxiety amongst many businesses is rising, and customers are being lost. | |
| "Businesses, jobs, investment and our communities are still firmly in the danger zone." | |
| Catherine McGuinness, policy chair of The City of London Corporation said: "The clock is ticking. Further delays will mean households and businesses remain hostage to the crippling economic uncertainty that has already plagued them since the referendum." | |
| Tech industry body TechUK said "We remain days away from a chaotic exit from the EU." |