Jun 25, 2017

Next boss Lord Wolfson calls for 'smooth' Brexit

Lord Wolfson, chief executive of Next, has warned that failing to secure a "Smooth" departure from the EU could result in "Years of economic decline" for the UK. The retail boss, who voted in favour of Brexit, said he still believed it would boost trade and the British economy. Brexit Secretary David Davis said on Sunday that a transition of "One to two years" would probably be needed. Lord Wolfson expressed some of those concerns, saying: "The UK government and EU need to rethink the timetable for negotiation and set out options for a realistic transition period." The Next chief executive, whose clothing and home goods retail chain employs 49,000 staff, said he was in favour of a Brexit that "Focused on prosperity and jobs". The group will involve business groups and be co-chaired by Mr Davis and Business Secretary Greg Clark, the Sunday Times reported.

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