Yahoo Finance Make trade not war: firms across Europe urge UK and Brussels to seek ambitious deal
European leaders must "get on" with securing an ambitious trade deal between the UK and EU that will secure jobs and boost living standards after Brexit, the head of Britain's biggest business group says today.
Carolyn Fairbairn, director general of the Confederation of British Industry (CBI), will call on policymakers to focus on the "real prize" of a trade deal worth hundreds of billions of pounds every year that will "dwarf" any potential divorce settlement.
We have an overwhelming shared interest in building the trading relationships which will define our shared future. This is not a zero-sum game
Carolyn Fairbairn
The CBI boss will say business leaders across Europe are "united in wanting an agreement with as few barriers as possible", as she urges leaders to move away from political grandstanding over Britain's exit bill.
“We have an overwhelming shared interest in building the trading relationships which will define our shared future. This is not a zero-sum game," she will say in a speech at Cambridge University.
“In today’s inter-connected economy, which relies on supply chains crossing borders and nations, our fates are intertwined."
Ms Fairbairn will say businesses can "win together" if they focus on creating an agreement "with as few barriers as possible".
Brexit | The European Union’s draft negotiation principles
While the UK faces paying billions of pounds into the EU budget until the end of the decade if it wants to secure reasonable terms on a Brexit transition deal, Ms Fairbairn will warn that a scenario where Britain walks away from the EU without a deal would send a "chilling effect" across the whole bloc.
"Without an agreement, we'd lose together," she will say, adding: "For both sides, leaving the negotiating table without a deal shouldn't be Plan B but Plan Z."
"Whether it's tariffs or regulation, a no-deal scenario would have chilling effects on both sides of the Channel."
She will say: “Across the Continent, businesses are the wealth creators. They’re generating jobs, supporting families and changing lives. And many are now looking at how Brexit will affect the way they work.
“When European decision-makers have conversations with their firms, they’ll find that many want to get on with discussing a new trading relationship.
“Far from being about doing the UK a favour, it is based on solid economic reasoning for both sides."
