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Business and trade unions say that Britain is facing a "national emergency"



The top British industry and Trades Union Congress officials said on Thursday that Britain is facing a "national emergency" if politicians allow the country to collide with the EU without a transitional agreement to protect trade.

"Companies and communities across the UK are not ready for this result. The shock to our economy would be felt by future generations," wrote CBI chief Carolyn Fairbairn and TUC chief Frances O & # 39; Grady in a letter until May.

British unions and business lobbies rarely speak with a voice, but they have been united for fear that a disorderly Brexit would cause chaos to the economy. It can happen within just eight days.

"We cannot overestimate this serious crisis for businesses and working people," said Fairbairn and O & # 39; Grady Prime.

  British politicians advised to take taxis home amid fear of Brexit violence

They called for May to postpone the Brexit deadline beyond 29 . March. They also recommended that the Prime Minister abandon the agreement she has negotiated with the EU – – twice rejected by the British Parliament – and begin.

May asks the EU to delay Brexit until June 30. EU officials have indicated that they may be willing to accept a short delay if May can get its deal through Britain's parliament next week. If that doesn't happen, the country's chances of throwing out of the block run the risk.
  Prime Minister Theresa May asks the EU to delay Brexit.

A disorderly exit would result in new costs and barriers to trade for UK businesses. The Bank of England has said the fallout from this scenario would be worse than the 2008 financial crisis.

Businesses have spelled risks for months. (19459019] MCD ) and KFC ( YUM ) joined British supermarkets for to warn that crashing out of the EU would disrupt supplies.

Car manufacturers cancel planned investments and prepare for idle plants. Airbus ( EADSF ) says it would be forced to redirect future investments away from the United Kingdom.

Banks and other finance companies move assets to at least £ 1 trillion ($ 1.3 trillion) out of the country.


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