Home news Plan for a very hard Brexit, German firms told

Plan for a very hard Brexit, German firms told

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German companies with a presence in the UK should be planning for a “very hard Brexit”, Germany’s biggest industry body has warned.German industry looked “with concern” at the progress of the Brexit talks, said the boss of the Federation of German Industries (BDI), Joachim Lang.”The British government is lacking a clear concept despite talking a lot,” he added.A hard Brexit implies the UK failing to reach a trade deal with the EU.The BDI said it had set up a task force to prepare contingency plans for the UK’s departure from the EU, scheduled to take place in March 2019.According to the Reuters news agency, the task force involves major firms including Airbus, Siemens and Deutsche Bank.Mr Lang said the Conservative Party in the UK was deeply divided over Brexit, as shown by this week’s conference of the party, held in Manchester.”German companies with a presence in Britain and Northern Ireland must now make provisions for the serious case of a very hard exit,” he added. “Anything else would be naive.”The UK is Germany’s third-biggest export destination and its fifth most important trading partner.It is also the German car industry’s biggest export market.German carmakers and suppliers employ about 9,000 people in the UK at 95 different sites.
Source: BBC